J P morgan retirement guide 2018

[mrfeh]

I paged through it, without reading every word/chart...

My takeaway: a useful document. The only criticisms I have are:

• It relies on the assumption that pre-retirement income is strongly related to retirement expenses. I see this often in simple retirement planning tools, and it drives me crazy, as it does not apply to big savers.
• It uses the bucket strategy. Not a terrible mistake, but is just mental accounting.

 

[FREE866]

I paged through it, without reading every word/chart...

My takeaway: a useful document. The only criticisms I have are:

• It relies on the assumption that pre-retirement income is strongly related to retirement expenses. I see this often in simple retirement planning tools, and it drives me crazy, as it does not apply to big savers.
• It uses the bucket strategy. Not a terrible mistake, but is just mental accounting.

Yes...other takeaway that jumped out at me is the impact of being out of the market slide....even with 2 nasty bear markets the annual return was over 7%

 

[SumDay]

Thanks VanWinkle for sharing. I was getting ready to post it since this just came across my desk today, but luckily search turned up your post. Kudos to you for finding it before the "expert" at my megacorp did.

 

[Hermit]

Yup. That was kinda the whole point of raising the FRA - reduce lifetime benefits.

Note however that most people don't wait until 70 to claim their benefits.

If I understand this correctly, the impact is on those who collect benefits early too. The percentage cut is on a per-year basis prior to FRA. More years prior to FRA equals a smaller check.

 

[Tallman4123]

Thank you for posting!

Just sent this along to my three siblings. One just retired in March and one is retiring today!!

 

[tdv2]

Good information....Thanks for posting.

 

[HillCountry]

Nice graphics and from people’s comments nothing new.

And if after 1960 then the max is 128%....

It is 124%. 8% per year.

 

[6miths]

Thanks for posting!

 

[Texas Proud]

Nice graphics and from people’s comments nothing new.



It is 124%. 8% per year.

Must have mistyped... thanks for the correction...