TheWizard
Thinks s/he gets paid by the post
I'm new here, more commonly over at BH forums.
What's the general thinking here about when is the best time to start taking SS retirement income?
Let's assume the current time-frame with FRA = 66 and interest rates for "safe" investment what they are right now.
Let's simplify the discussion to a single person who has sufficient assets that he can terminate employment at age 58, 60, or 62 without desperately needing SS income.
Let's further assume that our early retiree is in nominally good health.
So our retiree's income consists of some combination of pension/annuity, supplemented by as-needed withdrawals from his good-sized nest egg. His SS income will be somewhere between $15K/yr and $30K/yr, depending on when he chooses to start receiving it.
So what starting-age between 62 and 70 would yield the best long-term nest egg results?
And what starting-age do most folks here in similar situations use?
What's the general thinking here about when is the best time to start taking SS retirement income?
Let's assume the current time-frame with FRA = 66 and interest rates for "safe" investment what they are right now.
Let's simplify the discussion to a single person who has sufficient assets that he can terminate employment at age 58, 60, or 62 without desperately needing SS income.
Let's further assume that our early retiree is in nominally good health.
So our retiree's income consists of some combination of pension/annuity, supplemented by as-needed withdrawals from his good-sized nest egg. His SS income will be somewhere between $15K/yr and $30K/yr, depending on when he chooses to start receiving it.
So what starting-age between 62 and 70 would yield the best long-term nest egg results?
And what starting-age do most folks here in similar situations use?