72t for the spouse?

[jdw_fire]

I'll try to wait until 70 ("if you do wait to start your SS at age 70 (like i suggested)") but I have this nagging feeling that at that point, SS will be means tested and I might get only half of the published number. I think this could be a real possiblity and perhaps those who say, "get it while you can" might be onto something. Regardless, I'll have at least 7 years to watch things before pulling the trigger.

As far as expenses, heck, I want to take as much as I "reasonably" can from my assets. I think I can easily figure out what to do with any "extra"

I'll run a number of scenarios in firecalc to see what happens.

Again, thanks for your thoughts and suggestions!

if SS is means tested when you are 70 then it will be means tested whether you start taking it at 70 or you start taking it at 62 or any other age. it is likely that if SS is means tested then part or maybe all of the SS payment itself wont be counted in the test. if you wait till 70 to start taking your SS, your TIRA will be smaller at age 70.5 (because if you followed my suggestion you will be using yours for living expenses and converting your wifes to a roth) and your RMD will be smaller and if SS is means tested, WDs from your TIRA probably will be counted in the test. so if that is what you are worried about then waiting till 70 to start SS is more likely to avoid the means test than if you take it earlier and dont spend down your TIRA.

and remember, the longer you wait to start SS the better it is for your wife if you die first.

 

[jdw_fire]

also check this out http://www.early-retirement.org/forums/f28/need-suggestion-on-ss-56445.html#post1077696

 

[dtbach]

jdw thanks for your advise. I will seriously consider holding off on my SS until 70 and have DW take hers earlier.

DW and I have saved all of our lives for retirement. We did have fun in the runup but always lived beneath our means. Now we want to reap the benefit and do some traveling and more dining out. Don't need to "Summer in the south of France" or anything like that. Just enjoy traveling about and sampling the local cuisine.

So if I can take only 60k, So be it, if I can take 80K, all the better.

 

[jdw_fire]

jdw thanks for your advise. I will seriously consider holding off on my SS until 70 and have DW take hers earlier.

DW and I have saved all of our lives for retirement. We did have fun in the runup but always lived beneath our means. Now we want to reap the benefit and do some traveling and more dining out. Don't need to "Summer in the south of France" or anything like that. Just enjoy traveling about and sampling the local cuisine.

So if I can take only 60k, So be it, if I can take 80K, all the better.

well like i said, when i worked thru your numbers i added 10% to the expense numbers you said you wanted to use and making up the income shortfall of the 1st 10 years with just your TIRA didnt even expire it. and that was with you delaying the start of your SS till you reached 70. enjoy your retirement!