What would a good decision process for coordinating Social Security and pension income look like?

Question

The detail that complicates this is that a couple is coordinating Social Security, pension income, retirement dates, and portfolio withdrawals. The question I keep coming back to is this: what would a good decision process for coordinating Social Security and pension income look like?

Soradin · Accepted Answer

A good process is to compare several retirement income scenarios rather than choose a Social Security date in isolation. Model different claiming dates alongside the pension, expected portfolio withdrawals, taxes, employment income, longevity assumptions, and the income a survivor would have under each case. Then compare not only total projected income but also liquidity and how much pressure each option puts on the investment portfolio.

What would a good decision process for coordinating Social Security and pension income look like?

Soradin

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