If I delay taking funds from the SS pot, they then have to come from my IRA pot. Not necessarily. I have more in my taxable account than in my IRAs, so I have a choice on where to take the money from to support us in our retirement.Over 8 years, your IRA pot is $120,000 plus earnings bigger than it would have been had you waited until age 70. You still have to pay the taxes on those IRA distributions, and that is something to be considered in the grand scheme of things as well. And then there are RMDs to consider, so it's not like the IRA money will just sit there forever.Compounding is your friend for leaving an inheritance. I have no intentions of leaving an inheritance, and so that does not play into my plans at all. My kids have already received their inheritance. It was called "tuition in full at the college of your choice" and should be enough to give them a good head start on building their own financially secure lives.I plan to spend every penny, but realistically, know there will be something left for the kids. It's just that this will not be because I did anything on purpose to do that, nor will I not do something in retirement because it will diminish their inheritance.I do realize that I may be in the minority with this thinking.
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