Are you delaying retirement? How long?

[Over70irregs]

Yea, if you kick it's their problem! If not, cash in the pocket!

Every man for themselves!

1. Invest in health
2. Drive a paid for sturdy ride
3. Sole survivor =more incentive to keep you around

 

[Johney]

If you lay out the math it makes sense. When we start they don’t tell you about the survivorship discount…..you are in survival mode.
Getting fleeced
(The S&P 500 erases -$1 TRILLION of market cap and posts its largest daily decline since March 10th.)

I get it. I did spousal benefits as life insurance wasn't worth it and if the wife dies before me my pension reverts back to non spousal benefits.

 

[Thebrownblob]

I get it. I did spousal benefits as life insurance wasn't worth it and if the wife dies before me my pension reverts back to non spousal benefits.

Life insurance gets prohibitively expensive when you get towards your retirement age

 

[IVE GOTTA PACKAGE 4U]

I get it. I did spousal benefits as life insurance wasn't worth it and if the wife dies before me my pension reverts back to non spousal benefits.

Same here

Exactly

The only way life insurance .might....
Be an option is if you take a big universal or while life insurance when you are young

But honestly you are probably better off investing that extra money into a ROTH IRA

 

[IVE GOTTA PACKAGE 4U]

Life insurance gets prohibitively expensive when you get towards your retirement age

Especially if you want more than ten years.

 

[Thebrownblob]

Especially if you want more than ten years.

Just a little more affirmation that they think we’re about to croak lol.

 

[Johney]

Life insurance gets prohibitively expensive when you get towards your retirement age

I looked at it at age 56 when I retired and it was cheaper for spousal benefits than a policy that was only good for 20 years so if I lived past 20 years I was SOL.

 

[IVE GOTTA PACKAGE 4U]

Just a little more affirmation that they think we’re about to croak lol.

I sat down with a financial advisor last summer. Show them all my paperwork, and he said, let's see if life insurance.My bill will help you out a little bit more
His answer was no
They're just so many variables when it comes to the pension, especially ages.

 

[tourists24]

That's not very nice
Got to make sure thr wife is taken care of.

Wait a minute. Did you just admit that you’re a softie? And nice too?

 

[IVE GOTTA PACKAGE 4U]

I looked at it at age 56 when I retired and it was cheaper for spousal benefits than a policy that was only good for 20 years so if I lived past 20 years I was SOL.

I have a guy at work like that
I said, if you die in twenty years in one day she gets nothing, loses, the smaller of the two social security checks plus gets pushed into a higher tax bracket because she's single.

There was a member to used to post on her and her dad retired with without no survivorship options and died very shortly afterwards, and the mother struggled for the rest of her life.
If you're married, you want to make sure you take care of your wife one way or another

 

[IVE GOTTA PACKAGE 4U]

Wait a minute. Did you just admit that you’re a softie? And nice too?

I'm usually a peckerhead
But I cannot in good conscience.Try to leave her some safety net

 

[Johney]

Wait a minute. Did you just admit that you’re a softie? And nice too?

He's only soft around his wife...now around @rickyb he's hard as a rock.

 

[Wally]

I get it. I did spousal benefits as life insurance wasn't worth it and if the wife dies before me my pension reverts back to non spousal benefits.

That's a no brainer. Not too many plans like that, maybe the central, they are free and loose with other people's money.

 

[IVE GOTTA PACKAGE 4U]

That's a no brainer. Not too many plans like that, maybe the central, they are free and loose with other people's money.

Nope, it just goes back from it. Joint annuity to a single annuity.
The annuity company already made out for many years because they paid you less. But in an unfortunate event, the wife predeceases, you, you will go back to the single payer life option.

 

[Johney]

That's a no brainer. Not too many plans like that, maybe the central, they are free and loose with other people's money.

We do appreciate the generosity.

 

[IVE GOTTA PACKAGE 4U]

We do appreciate the generosity.

We hust need some of thst West money..

 

[Wally]

We do appreciate the generosity.

Just don't balk when it's your turn to pony up.

 

[Thebrownblob]

We hust need some of thst West money..

Woo

 

[Johney]

Just don't balk when it's your turn to pony up.

I'm already set in my pension payments. Let em take what they want from the younger guys.

 

[Over70irregs]

Life insurance gets prohibitively expensive when you get towards your retirement age

My parents self insure I believe