Retirement withdrawals vs. social security
Would it be better to withdraw from 401k and wait till 70 for social security ? Thanks
Terry Says
My overall inclination is to say yes. The SS benefit increases by 8% every year until you start taking it at the max possible age of 70. And that is the higher base on which you would receive future cost of living adjustments. I don’t think the stock market will provide that return in the next few years, but I could be wrong. Still there’s the possibility of losing money in the market. At this stage of life, I’d take the sure thing — assuming you still have some growth money left in your 40l(k) plan.
