Guaranteed income versus expenses predicts retirement security
The income coverage ratio, calculated by dividing guaranteed monthly income by essential expenses, is a key indicator of retirement security.
Delaying Social Security to 70 can increase lifetime income by roughly 8% per year.
A $1,000 reduction in monthly expenses is equivalent to adding $250,000 to a portfolio, while a $1,200 m increase in expenses would have a significant impact on retirement savings.