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Franklinton, LA | I think you can draw on you Wife's SS and she can draw on your SS at age 62. This will give you some current income and let your payment increase to age 66 or 70. I know your payments will not increase after age 70. You might want to talk to the SS people or someone else about this.
Also, if you each have earned income you can invest in a ROTH IRA. I think each of can can invest $5,500 per year after age 50. You will pay income tax on the money before it is invested in a ROTH IRA but you will not pay income tax on the earnings. Also, you will not be required to take minimum withdrawals after age 70 and it can be passed tax free to your heirs. | |
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Taking S.S. at age 62
