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All of what you say is correct. Another thing is holding off collecting social security before FRA and waiting until age 70 if possible. I know a few people that think I’m crazy as I plan of working until age 70 at the minimum and maybe longer. I would survive even if I retire now but we want to put more money into the bunker and delay collecting SS until the last minute.

My wife is a teacher, she will get ss, has a pension and a 403b. Between her ss and pension, when she retires in 3 years (age 68.5) just that will give us enough income to survive. If I continue to work another 3 years that will allow us to put about $200k more into our retirement accounts and delay my collecting for ss. All of the ROTH IRAs we have (2), a traditional IRA, our 401K and 403B will be extra.

If I were to continue working another year to age 71 I could cash flow a room addition that we are considering for our home.

You and I think along similar lines. While I would probably be okay retiring now (I'm 60 and my wife is 62 and just retired), every additional year I can work from here on out would just add to our cushion. I'm telling my wife not to even think about taking her social security until she is at least 67. Then if I can hang on until I'm 70, our dual social security income alone will be $75k (based on todays projections). By even if I can make it another 7 years to FRA, I'll be in very nice shape.

Fortunately I like working and my current job is so flexible that I can set my own hours and can work remotely as much as I want. I'd be foolish giving that up so long as my health is holding up.