If you have investments like a 401(k), traditional IRA, and/or a Roth IRA, drawing these down first to grow your Social Security benefits may be prudent. This is especially true if you want to retire at sixty-two or earlier. The longer you defer taking your benefits, the more they will grow.
Distributions from a 401(k) and a traditional IRA are taxed as ordinary income. Distributions from a Roth IRA are not taxed at all, making a Roth IRA a very attractive retirement investment. If you are working with a certified financial planner or wealth manager, he or she will be able to assist you in optimizing your retirement cash flow.