No. of Recommendations: 5
If you have a larger inflation-adjusted pension from age 70 on, you can spend more of your portfolio today.
Yes, and that completely ignores the depletion of their portfolio.
If the government ever changes the rules of SS or does some kind of backdoor rule change they might not actually get the larger SS payment that they were counting on.
It will be real easy for the government to say "The SS trust fund is running out of money. Rich people don't need the SS money, but poor people do, so SS payments will be cut for rich people."
You've never heard anybody saying "Tax the rich"?
When they die, their portfolio will have less money to pass on to their heirs. That money is gone. None of the higher SS checks will get passed on to their heirs.
This is of course not a consideration for people who don't have kids or family or favorite charities to inherit from them.
But most of us DO have children and families we'd like to inherit our stuff when we die.
Don't keep making the mistake of thinking that your situation is typical.
