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Stock impact report

Should I draw down my 401(k) before accepting Social Security? [Los Angeles Times (CA)]

WOLTERS KLUWER S/ADR (WTKWY) 
NASDAQ:AMEX Investor Relations: wolterskluwer.com/investors
The challenge: Fixed expenses often far exceed what part-time work provides, leaving retirees vulnerable if they can't work as long as planned. Brokerage errors on retirement distributions are costly; you have 60 days to reverse excess withdrawals tax-free before filing a complaint with regulators. Dear Liz: I am a 66-year-old single male working part-time (not by choice, but it's the best I can get). I earn about $24,000 per year plus another $4,000 in unemployment during the summer. Work provides healthcare, so I don't have Medicare premiums yet. With fixed expenses at roughly $50,000 per year, I am withdrawing from my 401(k) to cover the gap until I reach full retirement at the age of 70. If they will let me, I hope to continue to work until 75 because I love my job. At this rate, I will have exhausted the 401(k) by age 70, leaving me with a $100,000 CD earning 4%. Am I right to use the 401(k) as a bridge to full Social Security? Answer: The advantages of delaying Social Sec Show less Read more
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