Just to be clear, if you have a job and are collecting SS also then the amount of the earned income can be contributed to an IRA, up to the limits. If you don't have earned income then you cannot contribute to an IRA. You cannot contribute SS benefits to an IRA.
The best age to start collecting SS is dependent on many factors. Life expectancy is a big one.
Quote:
Originally Posted by Larchap49
My two cents, collect at 67 or whatever is your full retirement age, deposit the monthly benefit in a Roth IRA. Waiting until. 70 you will likely not live long enough to recoup the money you left on the table. I suggest you do the math and see how many years you would have to live to break even. When you finally retire all money in the Roth is tax free.
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