Retirement Options for Spouse Benefits
08-17-2018, 05:01 PM
#1
Gets Weekends Off
Thread Starter
Joined APC: May 2006
Posts: 2,889
Retirement Options for Spouse Benefits
Did a search but "retirement" brings up the latest pro/cons of VB plan, not strategies on optimizing what we already have.
I have not gone to a retirement seminar--still a few years out--but wondering if some of you that have crunched numbers have compared the straight line/75%/50% spouse annuity options. MacGuy or any others want to comment or share insights?
Also interested in why/how you made your choice for those that have retired. My situation is wife is about 3 years younger than me, good health. Should also have a military retirement at 60.
Same general theme--how many of you retired guys are making house payments verses have just bought a house straight out...pros/cons on each approach are also a subject I'd like to hear about...
I have not gone to a retirement seminar--still a few years out--but wondering if some of you that have crunched numbers have compared the straight line/75%/50% spouse annuity options. MacGuy or any others want to comment or share insights?
Also interested in why/how you made your choice for those that have retired. My situation is wife is about 3 years younger than me, good health. Should also have a military retirement at 60.
Same general theme--how many of you retired guys are making house payments verses have just bought a house straight out...pros/cons on each approach are also a subject I'd like to hear about...
08-17-2018, 06:05 PM
#2
Gets Weekends Off
Joined APC: Apr 2006
Position: MD-11 Captain
Posts: 4,304
Good question ... it'll be interesting to see what what folks have to say.
Several years back ALPA recommended taking a pass on the annuity for the wife and instead spend the $800/mo. on a big life insurance policy.
Several years back ALPA recommended taking a pass on the annuity for the wife and instead spend the $800/mo. on a big life insurance policy.
08-17-2018, 07:49 PM
#3
Gets Weekends Off
Joined APC: Nov 2013
Posts: 2,756
I've heard the same thing as Mayday. I've had people tell me that I should take the full pension, particularly since my spouse also has money coming in and won't need it.
But I guess much has to do with how good you think your health is. It is so individual, based upon how much each person has saved and what their genetics/physical situation is. Though that can unexpectedly change in the blink of an eye. When I look at the retirement website, the choices are overwhelming. I really don't know how you choose the right option without a crystal ball.
But I guess much has to do with how good you think your health is. It is so individual, based upon how much each person has saved and what their genetics/physical situation is. Though that can unexpectedly change in the blink of an eye. When I look at the retirement website, the choices are overwhelming. I really don't know how you choose the right option without a crystal ball.
08-18-2018, 01:40 AM
#4
Gets Weekends Off
Joined APC: May 2006
Posts: 1,804
Originally Posted by MaydayMark
Good question ... it'll be interesting to see what what folks have to say.
Several years back ALPA recommended taking a pass on the annuity for the wife and instead spend the $800/mo. on a big life insurance policy.
Several years back ALPA recommended taking a pass on the annuity for the wife and instead spend the $800/mo. on a big life insurance policy.
08-18-2018, 05:55 PM
#8
Bourgeoisie
Joined APC: Aug 2006
Position: 787 SO
Posts: 616
Originally Posted by MaydayMark
Good question ... it'll be interesting to see what what folks have to say.
Several years back ALPA recommended taking a pass on the annuity for the wife and instead spend the $800/mo. on a big life insurance policy.
Several years back ALPA recommended taking a pass on the annuity for the wife and instead spend the $800/mo. on a big life insurance policy.
Originally Posted by Anthrax
Don’t be so quick next time in championing a dog of a contract.
08-18-2018, 07:25 PM
#9
Gets Weekends Off
Joined APC: Nov 2013
Posts: 2,756
Originally Posted by MEMFO4Ever
I have heard this too, but when I checked on a 1 million dollar universal policy with a 'regular' (non-preferred) health rating for a 64 year old non-smoker, the cost was between 2 and 3 thousand a month (Pru, Lincoln Financial, Transamerica, AG, etc.). I guess you could roll the dice on a 20-year level term policy and hope he/she (being politically correct and all) does not outlive it, then the $800 a month is possible.
Saying he/she is being politically correct? As surprising as it might be to you, there actually are some females on this forum, with male spouses. Referring to he/she is just being more accurate.
08-18-2018, 10:36 PM
#10
Proponent of Hysteria
Joined APC: Jun 2007
Position: "Part of the problem." : JL
Posts: 1,053
Originally Posted by Anthrax
You want to optimize retirement? Don’t be so quick next time in championing a dog of a contract.
But more importantly, min-run it to 58 and then bail. The company HATES guys like that, and with good reason. Check the actuarial tables, those guys collect a lot more pension checks than the guy who’s burns it at both ends all the way to 60+
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