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in this video we examine the question should you draw on your 401k to delay taking social security coming up next on holy schmidt holy schmidt retirement can be overwhelming and there are a lot of questions that come up in retirement that need answers one of the most frequently asked questions here on the site is should i delay taking social security and fund that by drawing down on my 401k well thats a big question and to answer this question we need to make some assumptions change the assumptions and you change the outcome of the analysis at the end of this video i will show you what happens to the outcome if you tweak some of these assumptions the first assumption were going to make is that your social security payment is 1200 per month thats the average social security payment of a 62 year old in 2022 anyway that comes to thousand four hundred dollars per year if you wait until age seventy to draw social security that amount goes up to twenty five thousand five hundred and nine
