Overview
- An adviser in Kiplinger urges women to decide when to claim Social Security as part of one plan that links investments, taxes, lifestyle goals and life expectancy, offering a four-question checklist to guide the choice.
- Delaying can raise guaranteed, inflation-adjusted income for life, yet it often requires larger withdrawals early in retirement, which can hurt a portfolio if markets drop during those years.
- Claiming earlier can cut the strain on savings and provide more cash flow for travel and family time in the 60s and early 70s, trading a bigger check later for flexibility now.
- Tax timing matters because delaying can open a window for Roth conversions before benefits start, while later overlaps with required minimum distributions can lift income and trigger higher Medicare IRMAA premiums.
- For couples, coordination is key since the survivor keeps the higher benefit, a point that carries extra weight for women who tend to outlive a spouse.