I'll be 66 in November and am considering starting to take SS then, anticipating that I'll stop working this summer. I have ~$800K in various retirement and investment accounts, but enough savings to get me through the end of the year before I start drawing on those. Your advice re SS? Thanks.

Hi,

If you wait until age 70 to apply, your benefit amount will be 32% higher than at age 66. Assuming you expect an average or longer lifespan, unless you can get a better rate of return on your other investments, it may be best to draw on those rather than starting your Social Security at age 66.

That said, you may have additional options to consider if you are married, or if you were married in the past. If that's the case, you may be able to draw spousal or survivor benefits first, then switch to your own record at it's highest point when you reach age 70.

Best, Jerry