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Is using IRA funds to delay taking Social Security the best choice?
Waiting until age 70 to start your Social Security benefits is a tempting option, especially when you know that each year you wait will get you an extra 8% added to your benefit amount. And sometimes when people consider that option, they look to their IRA savings as a source of income to hold them over until they reach age 70. But, especially if they have a sizable IRA, that might not be the smartest move. This article by Todd Campbell appearing at Nortwest Indiana Time’s nwi.com explains that taxes and the type of IRA you hold should be included in your decision making process. Click here to read more.
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