I am 61 and the wife is 59. We both have upcoming birthdays, so I am facing the “do I take SS early or not”. I think it is a good move based on the following:
• Our annual expenses less travel are $60K
• Wife has a state teacher’s pension of $30K per year (no SS contributions)
• My SS at 62 would kick in about $24K per year for a delta of $6K
• Her health is good. I had bypass ten years ago (runs in the family), but still doing great
• A 3% withdrawal rate would easily cover the balance ($30K) and travel if no SS taken
Can you think of any reasons not to take the money and run?
• Our annual expenses less travel are $60K
• Wife has a state teacher’s pension of $30K per year (no SS contributions)
• My SS at 62 would kick in about $24K per year for a delta of $6K
• Her health is good. I had bypass ten years ago (runs in the family), but still doing great
• A 3% withdrawal rate would easily cover the balance ($30K) and travel if no SS taken
Can you think of any reasons not to take the money and run?