I am currently 64 years old. My question concerns the merits of waiting until Delayed Retirement at age 70 versus drawing SS at Full Retirement Age. In my case, FRA is 66 yrs 4 mos, at which point I would be eligible for $31,600 in yearly benefits. If I continue to work at my job -drawing a salary, and saving $25K per annum in my 401(k)- for another 44 months until my 70th birthday, then my yearly benefits will be $41,000 per year. I am currently in excellent health. If I live to be 90 years old, I think I would rather have a 20-yr retirement at $41K per year (with modest Cost of Living increases) than a 23.67- year retirement at $31K per year. Does this strategy seem reasonable? P.S. I have no employer pension, and currently have $250,000 in my 401(k)

Hi. Yes, it sounds quite reasonable. The longer you live, the more advantageous that waiting until age 70 to start drawing your Social Security retirement benefits becomes. Of course, no one knows what the future may hold, but waiting until age 70 to start drawing your retirement benefits is a good way to insure against outliving your assets.

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Best, Jerry