Solution: With modest income target and a significant safety net, they can put their worries aside
There is a story behind the couple’s real estate holdings. They bought their Florida properties shortly after the housing market crash of 2008-2009 for very advantageous prices. Their present value is the result of post-crisis appreciation. Henry and Millie will both qualify for full Old Age Security at 65, currently $7,290. If Henry starts before he retires at 65, his OAS could be subject to the clawback. It would be better to wait until Henry is 65. Moran advises. Postponement adds 7.2 per cent per year to benefits, but, OAS, too, is a life annuity. Start when retirement begins, Moran advises.
Source: News Formal (newsformal.com)
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