This $115K estimate probably assumes you will continue working past 62 and contributing to SS at your current rates until you file for benefits. If you expect $60K at 62, and stop working then, by my calculations you will receive approximately $106K at 70.Thanks for these great suggestions! It looks like the piece I was missing is that there are many benefits to delaying SS until 70 (tax benefits, inflation protection, etc.) if one has the ability to do so. My next question then is one of logistics: all of our portfolio is in 401k/403b/IRA accounts. We don’t have a taxable investment account so not sure how we would even do a bond or TIPS ladder? Our two mutual funds are 50% FXAIX (S&P500 index at Fidelity) and 50% FXNAX (US Total Bond index at Fidelity). So would we just take out around $110k/yr from the better performing fund each year from age 62 to 70, skip buying a SPIA, and then start claiming SS benefits at 70? (When I logged into our SS accounts they then project a yearly income at age 70 for us together at $115K.) Thanks!
Atticus713
Statistics: Posted by MA405 — Tue Sep 17, 2024 2:10 am — Replies 27 — Views 1630