How much in reserve?
Once we have our 4 income streams turned on (2 annuities, 2 SS) they will cover our expenses - basically living the same lifestyle we have now. That is true whether I take early, full, or late SS. DH has already started SS. We have 6 years until the annuities will start paying out. The only real variable is when I take SS.
Is it better to take SS earlier, withdrawing much less from investments to get through the initial 6 years. That would leave us with a much larger portfolio but a lower guaranteed income. Or is it better to wait for full or or late SS, ending with a smaller portfolio, but a higher guaranteed income.
Thoughts?
Once we have our 4 income streams turned on (2 annuities, 2 SS) they will cover our expenses - basically living the same lifestyle we have now. That is true whether I take early, full, or late SS. DH has already started SS. We have 6 years until the annuities will start paying out. The only real variable is when I take SS.
Is it better to take SS earlier, withdrawing much less from investments to get through the initial 6 years. That would leave us with a much larger portfolio but a lower guaranteed income. Or is it better to wait for full or or late SS, ending with a smaller portfolio, but a higher guaranteed income.
Thoughts?