No. of Recommendations: 2

What we did:

I took SSA at 62. I am the investor in the family. The money we did not remove from our savings to fund living expenses has been making more money than the difference in the payment increase by waiting until FRA or later.

We just filed a restricted application for DW to draw spousal benefits on my record at her FRA. We will continue this to 70 for her, at which time she will apply for the benefit for her record.

"Depleting our accounts in the years before SS starts at a rate of 6-7% knowing we can drop it way back once both our SS payments kick in makes me a bit nervous."

If it makes you nervous, perhaps you need to scrub your plan more. Retirement is not something to go into with a bad plan or doubts.

Prior to retiring 11 years ago, we dissected our expenses. We found our expenses were higher than what we would reasonably have in retirement. We saved every receipt and jotted down the cash spent if there was no receipt. We tabulated and scrubbed. It made a significant change in our planned expense level and solidified our plan.

It is easier to delay retirement to gain a better financial footing than it is to start working again 10 years after retiring when you finances pose a problem.

All holdings and some stats on my profile page
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