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Crowbob Crowbob is offline
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Join Date: Mar 2003
Location: NW Lower Michigan
Posts: 19,838
Originally Posted by dmcummins View Post
I知 trying to figure this out myself. I知 leaning toward taking it at 62. I知 61 now and haven稚 worked for the last 11 years. If I did the math correctly, if I can get 4% on my money the break even point is mid 80痴.

I知 at the point that I値l either need the SS money or will have to withdraw some money from my IRA. I知 also conserned about taxes, Not sure how required withdrawals would effect me later or what will higher SS payments put me.

I値l be fine either way, I知 thinking take it early. By the time I知 85 a few extra bucks probably won稚 do me any good anyway.
Your IRA is transferable, being part of your estate to pass to your heirs when you die. SS benefits aren't. As such, if you have heirs, preserve the IRA. The mandatory IRA withdrawal age is 70 1/2. Decide at that time how much to withdraw. Circumstances change.
Old 07-22-2018, 06:15 PM
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