OK. The deed is done but now what? I elected to start SS at 62. Here's why: I have a pension for life of $18,000 / year that is indexed to inflation with a reputable university and includes health benefits. I've been drawing on my 403B account since 2003 using the Periodic Payments methods of the IRS to avoid the 10% penalty and it's virtually the same amount of money since I started (IE I've been living off the interest) AND I want to leave the remains of it to my sister who is living on disability. My SS is $20,500 per year.

So with the SS checks I've suspended PP and withdraw money from the 403B only when needed (income tax and real estate tax) . I have $400,00 in my 403B

Have I done wrong? Should I reverse (suspend) my SS? I am single.

Hi,

That depends on a number of factors, but I know Larry believes that you should ideally delay taking your Social Security benefits until they reach their maximum rate, which would be at age 70 in your case. Here is a column of his in which he addresses this issue: http://www.usatoday.com/story/money/2015/02/22/social-security-retiremen....

You may want to run the maximization software available on this website in order to explore your filing options. You only have 12 months from your first month of entitlement in which to withdraw your claim for Social Security benefits (https://www.ssa.gov/planners/retire/withdrawal.html), although you could still suspend your benefits when you reach full retirement age.

Best, Jerry