Optimizing Social Security Claiming Strategy for Retirement Planning

Important Considerations:

The couple, aged 64 and 65, possesses $1.7 million in retirement savings.

Main Question:

Should they delay Social Security benefits to maximize income?

• Pros: Higher benefits in the long term.
• Cons: Relying solely on 401(k) for initial income.

Conclusion: A careful balance between Social Security claiming age and financial needs is crucial for a secure retirement.