Reply To: Under what situations not taking SSA after 70 make sense?

Home Fairmark Forum Retirement Savings and Benefits Under what situations not taking SSA after 70 make sense? Reply To: Under what situations not taking SSA after 70 make sense?

#4524
kaneohe
Participant

I guess you’d have to run your own numbers to be sure but I’d be surprised if it paid to skip taking SS past 70. If you took SS at 70, the question is whether you would get more than if you didn’t take it.
If it were taxed at highest bracket of 37% and state took 13%, that’s 50%.
SS seems like it would be unlikely to move you more than 2 IRMAA brackets which might increase your Medicare cost by 5K so does reducing SS by 50%
plus 5K leave you w/ any net SS? If SS is 20K, you would still net 5K so would still be better off than not taking.