401k vs Social Security vs Pension: Which Should You Claim First?

Comments · 411

• LI

  @lingreen5043 · 1 year ago · pinned

  Pension vs lump sum?

  19

• AN

  @angelacross3109 · 1 year ago

  I'm taking my social security, pension and allotments from my 401k. I don't have a crystal ball. My health is pretty good right now! Who knows in 10 yrs what it may be! I'm 63 and single. So, lets say I waited to 70. I die a couple years later. My potion goes back into the pot! I rather have a smaller check longer than a big check for a lesser amount of time!😅

  35

• MI

  @michaelsherman6492 · 1 year ago

  I am fers special retiree,have some VA and drawling my tsp. My wife is 18 months older than me and could claim SS now but is waiting until my benefit reaches at least $3k per month. We are doing ok but the medical bills are a pain even with insurance. Dental costs are killing us right now! Remember there are many right ways to plan and execute retirement, but you need to make the best choice for you, not what someone tells you is best for everyone. Research all your options, plan for retirement when you start work, not the day before you retire.

  199

• BL

  @blukahunas · 1 year ago

  I have a pension, SS and a 401k. I intend to retire at 62 (in two years) to start my pension and collect SS and not touch my 401k just yet. I'm single and can't leave anything to my only child other than the 401k so if I checkout before I get to 62 the pension is gone and the SS also goes back in the kitty. Do what's best for you folks.

  15

• NI

  @nikij.6058 · 1 year ago

  Not leaving SS on the table for one minute extra! Also pulling trigger on pensions at 65. I’ll keep my taxable income low using Roth and conversions during my first few years of retirement ages 61-63 after using cash saved up for these years. Then pull 401k/Roth to stay under higher tax brackets. Little longevity in my family is a consideration here.

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• DO

  @donnahenson93 · 1 year ago

  I am 58 and would like to retire in next 2 to 3 years have talked to several professionals, you're the first one to give me any useful information. Thank you

  14

• JT

  @jts8651 · 3 weeks ago

  Just an awesome band analogy!  Fleetwood Mac to Stevie Nicks; love it!

  1

• LH

  @lhicks1354 · 1 year ago

  My company requires you take your pension at 65

  10

• RO

  @rosskramer5296 · 1 year ago

  Thanks for this video, Ben.  This is my situation exactly, and I've already considered the adjustments I could make based on your great information.  Not many people out there discuss the nuances of retirement when there's a pension involved, so this video is much appreciated!

  14

• JE

  @jeffpearson-w8g · 1 year ago

  SS and pension. I don't need to touch 401k

  20

• ME

  @Mesosoup25 · 1 year ago

  For me retiring at 55 (early) I went pension and 401k then will add SS @ 63

  4

• GE

  @getinthespace7715 · 1 year ago

  Claim SS as soon as possible. Same with the pension especially if it is with a private company. <br>The 401k is money that is YOURS no matter what. No hurry to withdraw that.

  14