Retirement Benefits
I’m seriously considering taking my full Social Security retirement benefits right now at age 67 and putting most of the money ($30,000) each year in my retirement account, which sadly, at the moment is low. ($40,000). I plan to continue working until age 75 and then begin withdrawing from my account which should then be around $230,000. Would you reccommend switching to a Roth 401k now or stay with my standard 401k?
Terry Says
Well, that is the stupidest move you could make. I’m not mincing words.
Social Security is your ONLY inflation-adjusted LIFETIME payment.
Read this: https://www.terrysavage.com/waiting-to-take-social-security/
I don’t know where you came up with this idea, but stick with your company retirement plan — and leave SS alone till you’re age 70.
And if your company offers a Roth option, this would be a good time to take it.
