/ Ask Terry Questions / Retirement — SS or IRA first

Retirement — SS or IRA first

By Terry Savage on August 14, 2019 | Financial Planning / Retirement

Would it be better at this time to take from our IRA than to apply for social security?

Terry Says

I always recommend you wait until full retirement age (likely 66+) to take your Social Security benefits.  Taking it early is like losing out on an 8 percent gain a year — and it sets the basis for future cost-of-living increases.   But delaying withdrawals from your IRA is also important. Could you consider working longer?   That’s the best solution!

Recent Financial Planning / Retirement Questions

money

ASK TERRY

a personal
finance question