wbowhunt
Confused about dryer sheets
My wife retired in August 2011 and I retired in January 2012. We both received a year's salary, bonuses, our pensions( I have a cash balance pension), 401(k)s, variable annuities, traditional and Roth IRAs, mutual funds and no major debt. Financial planners have calculated we are good to go into our 90s with enough left over to leave inheritances to our children based on conservative growth and the stock market continuing in the pattern it is now. We both have health insurance coverage until we are eligible for Medicare. I was the higher wage earner but we both have 35 years of paying into Social Security, respectively. Our employer paid the SS taxes on our earned income in 2011 and 2012. We do NOT need to take social security to live on now! We are in great health so far and are very active physically!
Our questions are:
1. Should my wife take her social security benefits in 2013 and invest the net after taxes?
2. Wait until she turns 66 and then she files for it to supplement our living cost and let our investments continue to grow?
3. I take it at 66 and she claims spousal benefits on my portion?
4. Can one calculate what my SS benefit will be when I turn 66 if I did not have earned income for 6 years?
5. Any other strategies are welcome!
This is a great website!
Our questions are:
1. Should my wife take her social security benefits in 2013 and invest the net after taxes?
2. Wait until she turns 66 and then she files for it to supplement our living cost and let our investments continue to grow?
3. I take it at 66 and she claims spousal benefits on my portion?
4. Can one calculate what my SS benefit will be when I turn 66 if I did not have earned income for 6 years?
5. Any other strategies are welcome!
This is a great website!