Explore the intricacies of retirement planning, from social security strategies tailored for couples to navigating bond ladders effectively. Discover how delaying benefits can favor higher earners and how low earners gain flexibility. Learn about the smart use of surplus funds for growth and the tax advantages of SPIAs funded by Roth IRAs. Flexibility in financial strategies is key, challenging traditional rules to personalize retirement planning for unique needs.
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Flexible Social Security Claims for Couples
Delay Social Security claiming for the higher earner in a couple for optimal benefits.
The lower earner has flexibility to claim earlier, especially with a significant age gap.
insights INSIGHT
Bond Ladder Surplus Use
Bond ladders in retirement are for income by spending principal, not just reinvesting dividends.
Surplus from bond maturities can be reinvested in growth assets depending on portfolio thresholds.
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Managing Bond Ladder Surpluses
If bond ladder proceeds exceed spending and portfolio is below target, invest the surplus in growth assets.
In practice, flexibility to adjust spending or bond ladder extension is acceptable based on comfort and market conditions.
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In this episode of Retire with Style, Alex Murguia and Wade Pfau explore key retirement planning strategies, including how couples can optimize Social Security benefits, what to do with surplus funds from bond ladders, and the potential benefits of purchasing single premium immediate annuities (SPIAs) from Roth IRAs. They highlight the importance of maintaining flexibility and tailoring strategies to each retiree’s unique circumstances.
Takeaways
Delaying social security can benefit the higher earner in a couple.
The low earner has flexibility in claiming social security earlier.
Using software can help determine optimal social security claiming strategies.
Survivorship benefits are crucial in social security planning.
Bond ladders are used for retirement income, not just reinvestment.
Surplus funds from bond ladders can be invested in growth portfolios.
Roth IRAs can be beneficial for purchasing SPIAs.
SPIAs can provide tax-free income streams in retirement.
Tax diversification is important in retirement planning.
00:00 Introduction and Overview
01:16 Social Security Strategies for Couples
06:41 Managing Bond Ladder Surplus Funds
16:29 Exploring SPIAs in Retirement
Links
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