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re: Schwab Traditional IRA Advice
Posted on 2/1/24 at 11:48 am to AFtigerFan
Posted on 2/1/24 at 11:48 am to AFtigerFan
With a long time horizon I'd just got 100% low expense ratio index funds something like a total market or S&P500.
Is your SBP pension benefit (55% max) actually sufficient to support spouse? If you're depending on life insurance, is the term sufficient? You can't bank on the second pension being available to spouse in event you pass before eligibility or have to/choose to leave job.
I'm in similar situation (without seeking second pension) but planning for TSP, Roth IRAs, taxable investments plus life insurance to support spouse if I pass (declined SBP.) Term policy only runs until kids are grown so after that she'll be reliant on nest egg if I die. I am invested 100% equities nearly all in index funds. I figure I can accept that risk for now because of stable pension in lieu of bonds. If I pass spouse should shift to more conservative asset allocation.
Is your SBP pension benefit (55% max) actually sufficient to support spouse? If you're depending on life insurance, is the term sufficient? You can't bank on the second pension being available to spouse in event you pass before eligibility or have to/choose to leave job.
I'm in similar situation (without seeking second pension) but planning for TSP, Roth IRAs, taxable investments plus life insurance to support spouse if I pass (declined SBP.) Term policy only runs until kids are grown so after that she'll be reliant on nest egg if I die. I am invested 100% equities nearly all in index funds. I figure I can accept that risk for now because of stable pension in lieu of bonds. If I pass spouse should shift to more conservative asset allocation.
1
Posted on 2/1/24 at 6:28 pm to TorchtheFlyingTiger
quote:No, but my second pension’s SBP % is MUCH better so when I retire again, she’ll have no problems. I know I need to make it there first, but my life insurance is a safety net in case that doesn’t happen. I honestly have no concerns financially about her with my current setup. And if I do 15 years at the new job, then it’s gravy.
Is your SBP pension benefit (55% max) actually sufficient to support spouse?
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