Couple can afford retirement with military and civil service pensions, Social Security, and savings.

From Yahoo Finance: 2025-06-28 07:13:00

A couple is contemplating retirement with a monthly pension of $3,600 from military service and $1,500 from civil service. Their total cost of living will be covered by this, leaving their $3,500 joint Social Security income as disposable. With $140,000 in savings, their monthly take-home pay will be over $7,000, with total living costs at $4,000. The wife, who is a Japanese national, will rely on spousal benefits and survivor-benefit plans. They are in good financial standing for retirement.

The decision to retire hinges on military and civilian pensions along with Social Security benefits. Delaying Social Security can increase income and provide a financial cushion for long-term care. A balanced investment portfolio is recommended for retirees with IRAs and 401(k)s to navigate market fluctuations. Military pensions offer financial stability and flexibility in budgeting, enabling retirees to focus on long-term growth. Claiming Social Security early can impact lifetime spending, with waiting recommended for most individuals.

For retirees with military pensions, withdrawing less from investments is possible, leading to more financial options and less reliance on market fluctuations. Constructing a budget with guaranteed income can help match fixed expenses with fixed sources of income. Delaying Social Security benefits can increase lifetime discretionary spending and secure financial stability. Claiming benefits early may make sense for those with health issues or who need Social Security to retire. If financially confident, retirement is a viable option.



Read more at Yahoo Finance: My wife and I have $7,000 a month in pensions and Social Security, plus $140,000 cash. Can we afford to retire?