This is one of my favorite finance sites and I thank you for your work on this. I had to chuckle when you mentioned corporate words above. I immediately thought of how much I cringe when I see "reaching out" and there it was in your style guide. Today is my 35th wedding anniversary and I had an idea that would be relevant to young couples. I may send a proposal sometime in the new year. Again, thanks for a relevant and useful site. Happy Holidays!
I agree with Jonathan. Having SPIAs to cover essential expenses frees us up to invest more aggressively than we otherwise would have, to hopefully pace inflation. Getting a SPIA to bridge to Social Security didn't make sense. In 4 years, when I take Social Security at age 70, I will take a look at whether or not to get an additional SPIA to cover expenses at that point. I think layering SPIAs over time can help mitigate inflationary increases in essential expenses. I view these as longevity insurance. Also, just having the guaranteed income really eased our minds in that we can at least pay for our essentials and ignore the market volatility as those funds are earmarked for discretionary expenses.
Comments
This is one of my favorite finance sites and I thank you for your work on this. I had to chuckle when you mentioned corporate words above. I immediately thought of how much I cringe when I see "reaching out" and there it was in your style guide. Today is my 35th wedding anniversary and I had an idea that would be relevant to young couples. I may send a proposal sometime in the new year. Again, thanks for a relevant and useful site. Happy Holidays!
Post: Writ Large
Link to comment from December 24, 2022
I agree with Jonathan. Having SPIAs to cover essential expenses frees us up to invest more aggressively than we otherwise would have, to hopefully pace inflation. Getting a SPIA to bridge to Social Security didn't make sense. In 4 years, when I take Social Security at age 70, I will take a look at whether or not to get an additional SPIA to cover expenses at that point. I think layering SPIAs over time can help mitigate inflationary increases in essential expenses. I view these as longevity insurance. Also, just having the guaranteed income really eased our minds in that we can at least pay for our essentials and ignore the market volatility as those funds are earmarked for discretionary expenses.
Post: Senior Class
Link to comment from August 14, 2021