Poll - Guaranteed Retired Pre-Tax Income Per Month - Please read first post for relevant sources before voting.

[disneysteve]

Just might be my thinking... but I doubt there are many in the below $5K range on this board...

The poll so far shows 50% below 5K and over 20% at zero. Though as I said earlier I think the very narrow definition of guaranteed income is creating a false impression.

 

[racy]

Who won?

 

[Time2]

We just go into the $5000- $7500 from our SS which our only guaranteed income. But less in our hand after Part B is paid.

 

[audreyh1]

Only one of us is drawing SS so far (a very recent event) and no pensions. So this will change. But months ago it would have been a big fat $0.

 

[Willers]

$0 until we apply for SS, but that is years away. I guess we are not one of those couples that are "on a fixed income."

 

[audreyh1]

I voted $0 based on your definition though that is very much false. We have guaranteed income but you said interest doesn’t count. That means all of the guaranteed payments from Treasuries and CDs doesn’t matter for some reason.

The poll so far shows 50% below 5K and over 20% at zero. Though as I said earlier I think the very narrow definition of guaranteed income is creating a false impression.

Guaranteed income does not include investment income. Pensions, SS and income from annuities - predictable and guaranteed income for life.

 

[Time2]

$0 until we apply for SS, but that is years away. I guess we are not one of those couples that are "on a fixed income."

Just because you are on SS doesn't mean your income is fixed! I could say my income is fixed between SS of $60k and $182K using the 4% rule.

 

[Jerry1]

Guaranteed income does not include investment income. Pensions, SS and income from annuities - predictable and guaranteed income for life.

Simple enough, but what about my MYGA that's in my IRA? I don't take that money, but it's income from a guaranteed source - though, I agree, not an income for life type of annuity. CD's and Treasuries are very similar.

 

[ShokWaveRider]

I am amazed how well off we "really" are as retirees in the USA. With reference guaranteed income that is. I have family and friends in Canada, the UK, Australia and Malta, all of whom I would consider relatively well off. Their guaranteed income from SS, Pensions and Annuity equivalents is a lot less. Their SS alone is far lower than here in the USA compared to the foreign equivalent(s). I only have hearsay on this, but that is all I have to compare. Perhaps some here could chime in on this.

For those who are commenting on why I limited the scope to SS, Pensions and Annuities (all typically guaranteed for life, variable and period certain annuities notwithstanding), if we added MYGAs, brokerage returns, CD returns etc., all which can be variable and change, the numbers would be a lot higher, in our case at least double, even triple for some here.

 

[COcheesehead]

Not a lot of pension type income, but a lot of reasonably guaranteed income.

 

[disneysteve]

Guaranteed income does not include investment income. Pensions, SS and income from annuities - predictable and guaranteed income for life.

I understand that’s the definition OP used and I voted accordingly. I just think it leaves out other sources of guaranteed income. Let’s say we had $10 million in 30-year Treasuries. Wouldn’t that also provide us with predictable and guaranteed income?

 

[COcheesehead]

I understand that’s the definition OP used and I voted accordingly. I just think it leaves out other sources of guaranteed income. Let’s say we had $10 million in 30-year Treasuries. Wouldn’t that also provide us with predictable and guaranteed income?

That’s the way I feel.

 

[pjigar]

We are not retired so I didn't vote. I looked at the results and so far only 20% of retired people have answered "None" and some people with low monthly guaranteed income. As a new batch of retirees (most of whom do not have pensions) join the club, I would expect more people with less guaranteed income. We will only have SS as a guaranteed income after 70. Until then, we will be flying solo!

 

[jazz4cash]

56 and fully retired but not collecting SS, no pension, no annuities. So I voted zero.

Let me know if you want me to change my vote based on what my SS will be based on my current SS statements. I would like this poll to be as accurate as possible!

I didn’t know you could do that.

 

[Gumby]

I understand that’s the definition OP used and I voted accordingly. I just think it leaves out other sources of guaranteed income. Let’s say we had $10 million in 30-year Treasuries. Wouldn’t that also provide us with predictable and guaranteed income?

That’s the way I feel.

The only real difference I can see is that pensions and social security do not require that you have any capital at all to get the cash flow. All you had to do was to work in the right place for the right amount of time (or for SS work any social security covered job for the right amount of time). By contrast, you first had to save that $10 million and then buy the 30 year Treasuries. A more difficult feat, I would think.

As long as the person asking the question uses clear definitions, we can answer it. Whether that is useful information or not is an entirely different issue, and usually not one worth quibbling over.

 

[scrabbler1]

I am in the $0 group because I am not old enough to collect my frozen company pension and do not wish to claim SS (I am 62).

While the monthly dividends I receive from my bond fund don't count as guaranteed, they are pretty damned close. I mean, what's the chance that every underlying bond in that massive fund will become worthless? Sure, bond fund dividends can vary based on interest rates and how many shares I own in the fund. But I have been using this bond fund's monthly dividends to pay the bills for the last 17 years, and they have been enough to keep me from having to tap into my rollover IRA which I have been able to access since I turned 59.5 three years ago.

 

[FIREd]

Zero for the time being and I don’t expect to get much once I start claiming SS at age 67-70.

 

[Healthy Lifestyle]

I continue reading all the comments just to get an idea of what this poll is about.?

 

[VanWinkle]

Over 90K per year in SS and pensions as a couple. This allows each
of us to spend very little from our investments. RMDs for me next year
will change that.

 

[audreyh1]

Over 90K per year in SS and pensions as a couple. This allows each
of us to spend very little from our investments. RMDs for me next year
will change that.

If you reinvest those RMDs, you are only out the additional taxes.

 

[Lorenzo]

That the "None" result is in the lead at this point does not surprise me. This is an early retirement forum, and you might expect that a large number of members would be in the early phase of their retirement, before SS, and also that the more recent retirees worked during an era when private-sector pension plans were being phased out. They followed FIRE advice to build up a taxable account.

 

[Cobra9777]

We each have a small pension from former employers. One has a partial COLA; the other is non-COLA. We each had lump sum options but chose the annuity.

DW just turned 65 and started SS. I'm 64, but the plan is to wait until 70. The two pensions and one SS cover roughly 70% of annual household spend.

 

[pacergal]

Two pensions, two SS, lifetime incomes.
Lousy pay during our work lives, but the pension was the "golden handcuffs" at the time. We were grandfathered in before big changes came. After 15 years of work, there was no job I could find that would balance out my pension if I stuck it out for 30. Work was enjoyable for the most part.
We are blessed.

 

[SecondCor521]

I didn’t know you could do that.

Some polls you can; I didn't check if this one allows it or not.

 

[USGrant1962]

Just might be my thinking... but I doubt there are many in the below $5K range on this board...

Either get a good amount or ZIP... waiting to start getting a good amount...

In our case, we're doing the low-at-62, high-at-70 SS claiming strategy. So we now have a ~$1,350 SS income. It will be well north of $5K when we hit 70. I think a small SS income pending age 70 is pretty common here.