Reported about 1 year ago
A 64-year-old retired individual seeks advice on when to claim Social Security, given a $1.7 million retirement fund and other assets. With the option to live off their 401(k) for a couple of years, delaying Social Security could be beneficial due to potential increased benefits. Considering longevity, health, financial stability, and estate planning, waiting to claim could lead to larger benefits for both spouses and surviving partners. The importance of evaluating retirement needs and impacts on savings is highlighted, with suggestions to consider various claiming strategies based on individual circumstances.
Source: YAHOO