PIA =>

IRA =>

Run the Math on 'Buying' More Social Security Income

$2,000 Living Expense => $
40,000.00
$400,000 Rate of Return =>
5% COLAS =>

Take SS Now
Age
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

SS/Year
18,000.00
18,360.00
18,727.20
19,101.74
19,483.78
19,873.45
20,270.92
20,676.34
21,089.87
21,511.67
21,941.90
22,380.74
22,828.35
23,284.92
23,750.62
24,225.63
24,710.14
25,204.35
25,708.43
26,222.60
26,747.05
27,281.99
27,827.63
28,384.19
28,951.87
29,530.91
30,121.53
30,723.96
31,338.44

Living Expense
$
40,000.00
$
40,800.00
$
41,616.00
$
42,448.32
$
43,297.29
$
44,163.23
$
45,046.50
$
45,947.43
$
46,866.38
$
47,803.70
$
48,759.78
$
49,734.97
$
50,729.67
$
51,744.27
$
52,779.15
$
53,834.73
$
54,911.43
$
56,009.66
$
57,129.85
$
58,272.45
$
59,437.90
$
60,626.65
$
61,839.19
$
63,075.97
$
64,337.49
$
65,624.24
$
66,936.72
$
68,275.46
$
69,640.97

Needed from IRA

$22,000.00
$22,440.00
$22,888.80
$23,346.58
$23,813.51
$24,289.78
$24,775.57
$25,271.08
$25,776.51
$26,292.04
$26,817.88
$27,354.23
$27,901.32
$28,459.35
$29,028.53
$29,609.10
$30,201.29
$30,805.31
$31,421.42
$32,049.85
$32,690.84
$33,344.66
$34,011.55
$34,691.78
$35,385.62
$36,093.33
$36,815.20
$37,551.50
$38,302.53

Retire Now, Draw Dow

IRA Balance
$398,000.00
$395,460.00
$392,344.20
$388,614.83
$384,232.07
$379,153.89
$373,336.02
$366,731.73
$359,291.81
$350,964.37
$341,694.71
$331,425.21
$320,095.15
$307,640.56
$293,994.05
$279,084.65
$262,837.60
$245,174.17
$226,011.46
$205,262.19
$182,834.46
$158,631.52
$132,551.54
$104,487.34
$74,326.08
$41,949.05
$7,231.31
($29,958.63)
($69,759.09)

Source: Blankenship Financial Planning, Ltd.

SS/Year
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

26,497.94
27,027.90
27,568.46
28,119.83
28,682.22
29,255.87
29,840.98
30,437.80
31,046.56
31,667.49
32,300.84
32,946.86
33,605.79
34,277.91
34,963.47
35,662.74
36,375.99
37,103.51
37,845.58
38,602.49
39,374.54
40,162.03
40,965.28
41,784.58
42,620.27

2%

Retire Now, Draw Down IRA - Take SS at 66

Living Expense
$
40,000.00
$
40,800.00
$
41,616.00
$
42,448.32
$
43,297.29
$
44,163.23
$
45,046.50
$
45,947.43
$
46,866.38
$
47,803.70
$
48,759.78
$
49,734.97
$
50,729.67
$
51,744.27
$
52,779.15
$
53,834.73
$
54,911.43
$
56,009.66
$
57,129.85
$
58,272.45
$
59,437.90
$
60,626.65
$
61,839.19
$
63,075.97
$
64,337.49
$
65,624.24
$
66,936.72
$
68,275.46
$
69,640.97

Needed from IRA

$40,000.00
$40,800.00
$41,616.00
$42,448.32
$16,799.35
$17,135.33
$17,478.04
$17,827.60
$18,184.15
$18,547.84
$18,918.79
$19,297.17
$19,683.11
$20,076.77
$20,478.31
$20,887.88
$21,305.63
$21,731.75
$22,166.38
$22,609.71
$23,061.90
$23,523.14
$23,993.60
$24,473.48
$24,962.95
$25,462.21
$25,971.45
$26,490.88
$27,020.70

IRA Balance
$380,000.00
$358,200.00
$334,494.00
$308,770.38
$307,409.55
$305,644.70
$303,448.89
$300,793.73
$297,649.27
$293,983.89
$289,764.29
$284,955.34
$279,519.99
$273,419.22
$266,611.87
$259,054.58
$250,701.68
$241,505.02
$231,413.89
$220,374.87
$208,331.71
$195,225.15
$180,992.81
$165,568.97
$148,884.47
$130,866.49
$111,438.37
$90,519.41
$68,024.68

Retire Now, Draw Down IRA - Take SS at 70

SS/Year
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

37,860.53
38,617.74
39,390.10
40,177.90
40,981.46
41,801.09
42,637.11
43,489.85
44,359.65
45,246.84
46,151.78
47,074.81
48,016.31
48,976.64
49,956.17
50,955.29
51,974.40
53,013.89
54,074.16
55,155.65
56,258.76

Living Expense
$
40,000.00
$
40,800.00
$
41,616.00
$
42,448.32
$
43,297.29
$
44,163.23
$
45,046.50
$
45,947.43
$
46,866.38
$
47,803.70
$
48,759.78
$
49,734.97
$
50,729.67
$
51,744.27
$
52,779.15
$
53,834.73
$
54,911.43
$
56,009.66
$
57,129.85
$
58,272.45
$
59,437.90
$
60,626.65
$
61,839.19
$
63,075.97
$
64,337.49
$
65,624.24
$
66,936.72
$
68,275.46
$
69,640.97

Needed from IRA

$40,000.00
$40,800.00
$41,616.00
$42,448.32
$43,297.29
$44,163.23
$45,046.50
$45,947.43
$9,005.84
$9,185.96
$9,369.68
$9,557.07
$9,748.21
$9,943.18
$10,142.04
$10,344.88
$10,551.78
$10,762.82
$10,978.07
$11,197.63
$11,421.59
$11,650.02
$11,883.02
$12,120.68
$12,363.09
$12,610.35
$12,862.56
$13,119.81
$13,382.21

A - Take SS at 70
IRA Balance
$380,000.00
$358,200.00
$334,494.00
$308,770.38
$280,911.61
$250,793.96
$218,287.16
$183,254.09
$183,410.96
$183,395.54
$183,195.64
$182,798.35
$182,190.06
$181,356.38
$180,282.16
$178,951.38
$177,347.17
$175,451.72
$173,246.23
$170,710.91
$167,824.87
$164,566.09
$160,911.38
$156,836.27
$152,314.99
$147,320.39
$141,823.85
$135,795.23
$129,202.78