My wife would like to retire at 62. Would it be better for to use the funds from her 401(k) first to get to the age of 65 before filing for Social Security?
See the full answer here, http://www.usatoday.com/story/experience/weekend/lifestyle/2014/10/30/use-401k-before-social-security/18008107/
Every situation is different. But it can be beneficial for many individuals to consider waiting to at least full retirement age (FRA) before starting Social Security and using 401(k) or IRA distributions to fund the “bridge period” between the time retirement starts and Social Security is claimed, says James Mahaney, a vice president with Prudential Financial.
The reasons are two-fold. One, if your wife starts Social Security at age 62, she’ll lock in a permanent “real” reduction of 25%. “I say ‘real’ because the lower benefit will provide a smaller base on which cost-of-living-adjustments will apply into the future,” says Mahaney.
