Can I Retire Before My Full Retirement Age And Wait Until Age 70 To Draw My Social Security Benefits?

Apr 11 2018 - 10:26am

Hi Larry, If I should retire before I reach my 100% age of 66 years and 5 months, can I leave my SS benefit alone until age 70 but start to draw from my taxable 401K? (Leaving my Roth 401K alone). If I can do this would my SS Benefit grow by 8% per year until age 70?

Hi,

Yes, and yes. Regardless of when you retire you can wait until age 70 to claim your Social Security retirement benefits, which would then increase by 8% per year from your full retirement age until you start drawing benefits at age 70.

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Best, Jerry