My SS Decision Contemplation and Analysis

[COcheesehead]

I get it and I'm still on the fence. I never calculated it in my retirement planning. Less drag on the portfolio would be a good thing - or would I just increase our travel budget with the extra money .

Nothing wrong with either one of those outcomes. Heads you win, tails you win.

 

[Flieger]

This is something I've thought about a great deal and in the end it varies so much with individual circumstances.

We have a very high (85%) of retirement funds in tax-deferred accounts. So high taxes on RMDs are a big consideration. Especially if DH leaves me a widow, which is likely. Right now I'm mostly pulling from IRAs for living expenses (I have a small pension and DH has a low SSDI income) and doing modest Roth conversions. The benefits of waiting for me to claim SS (I was the much higher earning spouse) seem worth it.

1. Lower taxes on lower RMDs
2. Lower taxes due to 15% untaxed higher SS benefit
3. Higher survivor benefit for my DH if I should pass first

It sounds like your tax deferred accounts are a much lower %, which would change the picture significantly.

Luckily (or not?)

1. RMD's and IRMAA and the like are not a factor in my (our) consideration.
2. Taxes are going to be there no matter what due to low threshold.
3. Higher survivor benefit was our only thinking before, but holding on to (and growing) our Retirement fund would likely benefit more.

Flieger

 

[Flieger]

Pulled the trigger and submitted this AM for a September start! Will cut my retirement WD's in half.

Flieger

 

[Flyfish1]

Pulled the trigger and submitted this AM for an October start! Will cut my retirement WD's in half.

Flieger

Wow - Congrats!. Curious why wait until October?

 

[Flieger]

Wow - Congrats!. Curious why wait until October?

no particular reason, just as far out as I could go on the SS site. Corrected to September...

Flieger

 

[finnski1]

"Not jumping to a decision as I will wait at least 4-6 months to let things settle out, but just considering/analyzing."