I didn't answer the survey because I'm not sure which answer to give. I did a lot of planning calculations including pension and SS estimates about 10 years ago just before we retired, but your survey made me wonder how we're really doing. And since the IRS has closed up the loop hole that allowed you to start taking SS then give it back and start over, We are planning to do it differently. SGSpouse has two small pensions and I have one. None of them include COLA. I'm a year older than her so my pensions and SS eligibility trigger a year before hers do. In the absence of the old SS loophole I mentioned, we plan on starting to collect her SS benefits when she is 62, then hold off on mine until age 65 to 70 depending on how our investments and health go. I've used a income requirement model that assumes my spending keeps up with inflation and assumed an inflation rate of 3.2% (because that seems to match up fairly well to how I've spent during retirement). So . .First 6 years of retirement - 0% of retirement income from pensions and SSNext year ramp up one pension - ~7% of retirement income from pensionNext 7 years add two pensions - ~12% of retirement income from pensionsNext 3 to 8 years add one SS benefit - ~23% of retirement incomeOnce we add the final SS benefit - ~40% ramping down to about 33%.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra