I have been retired full time for a couple of years (thanks again, covid!). My only nest egg is an IRA invested 55-45% in low fee Vanguard ETF's (VTI, VXUS, BND, BNDX). I turn 65 in a few months and have yet to draw social security. My conundrum is that I want to leave a legacy to my children and I HATE drawing down my IRA, but I'm fully aware of the benefits of waiting to get that guaranteed 8% per year increase. If I begin taking it at 65, it would cover almost all my expenses and half of my monthly budgeted expense enabling me to withdraw much less from the IRA. Isn't that a backdoor method of getting my social security and "investing" it? I would be interested in hearing what others in a similar circumstance have done. Thank you.
Statistics: Posted by Bkirishman — Sat May 04, 2024 3:44 pm — Replies 11 — Views 880