Exploring the financial situation of a retired couple with one or two trips a year
- Retired union construction worker with $80,000 pension and $3,400 Social Security Disability
- Wife earns $68,000 as an executive assistant
- Owe $180,000 on home at 2.5% interest, will be paid off in 8.5 years
- Wife plans to take Social Security at age 62
- Have $425,000 in wife’s 401(k) and $100,000 in annuity
- Calculate income and expenses to determine if comfortable lifestyle is possible
- Consider asset allocation and terms of annuity
- Set up accounts on Social Security Administration’s website
- Have backup plans for unexpected events
A retired union construction worker, aged 59, is collecting a full pension of $80,000 per year with no COLA. His wife, also 59, earns $68,000 as an executive assistant. They owe $180,000 on their home at 2.5% interest, which will be paid off in about 8.5 years. The wife plans to take Social Security at age 62. They also have $425,000 in a 401(k) and $100,000 in an annuity. To determine if they have enough income to live a comfortable lifestyle, they should calculate their current and future sources of income, as well as their expenses. They should review their assets, including the wife’s 401(k) and the terms of the annuity. Setting up accounts on the Social Security Administration’s website can provide information about their benefits. It is also important to have backup plans for unexpected events.
Factuality Level: 7
Factuality Justification: The article provides general advice and suggestions for assessing retirement income and expenses. It does not contain any misleading information or bias. However, it lacks specific details and personalized recommendations, which may limit its usefulness for individual readers.
Noise Level: 3
Noise Justification: The article provides specific advice and guidance to the reader on how to assess their income and expenses for retirement. It offers practical steps and considerations to help the reader make informed decisions. However, there is some filler content, such as the inclusion of reader suggestions and the advertisement at the beginning of the article.
Financial Relevance: Yes
Financial Markets Impacted: No information provided
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses the financial situation and retirement planning of a retired union construction worker and his wife. It does not mention any extreme events or their impact on financial markets or companies.
Private Companies: MarketWatch
Key People: chief operating officer (executive assistant)
www.marketwatch.com 
