The Best Social Security Advice for People Who Want to Retire Early
Confused by Social Security?
Many people dream of retiring before 65. But early retirement increases the importance of timing Social Security correctly. Here’s what early retirees need to know.
1. Your Filing Age Should Rarely Equal Your Retirement Age
Retiring early does not mean filing early. Often, the best plan is to retire at 60 or 62 but delay filing until 67 or 70.
2. Early Retirement + Early Filing = Compounding Reductions
Two reductions hit you: Reduced Social Security benefit and higher taxes on IRA withdrawals later. It’s a dangerous combination.
3. Early Retirement Is the Perfect Time for Roth Conversions
Lower income years offer a powerful tax-planning window. This improves RMDs and survivor income.
About Author
Ray R. Harris
Ray R. Harris, RSSA®, partners with tax and legal professionals to provide specialized Social Security claiming analysis for high-net-worth clients aged 58–70. A former executive with an MBA and background in Finance, Ray mitigates liability for his partners by ensuring their clients optimize spousal benefits, tax efficiency, and lifetime income.
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