The strategy is designed to be used by middle-income workers and retirees, which the report defines as those having $1M or less in retirement savings. - CNBC
The best way to optimize Social Security's benefits is to delay receiving them until you turn 70, Vernon says, which means working longer in some way. If you want to retire before then, one option is to work part-time and make just enough to cover living expenses until 70, he suggests.
To create this payment, withdraw the same amount you would have received from Social Security from your other retirement savings, such as a 401 or IRA, and keep it in a separate account. If your Social Security payment is $20,000 per year and you're delaying it for five years, you'd set aside $100,000 to withdraw over those five years.
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