davidbeitz
Dryer sheet wannabe
My DW and I are both 60 and just retired. DW has a small pension (with healthcare available) and I have none so we will be living mostly on distributions from our investments.
As a retired teacher (and subject to the windfall elimination provision), DW will not receive much social security (~$2,200 per year at 62) and upon my death she will only receive a small spousal benefit (~$13,000 per year).
In order to provide for her after my death, I’m considering taking SS at 62 to minimize the required withdraw from our investments to try and maximize our investment total to ensure DW has sufficient funds to provide for her after my death.
Is this a possible strategy? What am I missing?
As a retired teacher (and subject to the windfall elimination provision), DW will not receive much social security (~$2,200 per year at 62) and upon my death she will only receive a small spousal benefit (~$13,000 per year).
In order to provide for her after my death, I’m considering taking SS at 62 to minimize the required withdraw from our investments to try and maximize our investment total to ensure DW has sufficient funds to provide for her after my death.
Is this a possible strategy? What am I missing?