Liz Weston: ‘Bridge’ your way to Social Security
By LIZ WESTON of NerdWallet
Delaying the start of Social Security retirement benefits can dramatically increase your monthly benefit and your lifetime income. But how do you pay the bills in the meantime? Using your 401(k) or other retirement savings as a “bridge” may be the best option, even if it means spending down your savings at a rapid rate. You can create a bridge on your own, but researchers suggest it may be more beneficial for employers to offer this option in the future. Here’s why a bridge could help you save money — and how to build one.