Hello, I'm helping an older gentlemen with his retirement. Need some guidance from Reddit friends.
Scenario: My friend who lives in FL was laid off late last year and turns 62 this month. His Ira savings has grown to $80k. Should he apply and collect early Social security ($740) at age 62 or wait and collect SS($1,050) at age 67. If he was to collect at 62, he would be tapping into his IRA($1,000 a month) which would be a taxable distribution. His spouse doesn't make much and both are on Affordable care act(Obamacare). Their home is paid off. Thoughts and advise appreciated.
Submitted October 12, 2017 at 10:17AM by s3ajnu http://ift.tt/2gA9X6k
