Rachel Christian at Yahoo Finance wrote a guide to retirement planning in your 70s and beyond, covering required minimum distributions, Social Security, long-term care and legacy planning, and I contributed several points.
On Social Security, I tell couples the higher earner's claiming age is really the survivor's paycheck. Most couples treat it as two separate decisions when it is really one income plan for two lifespans, so the two claims should work as a pair, with other income such as a part-time job or pension covering the gap while the larger benefit grows.
On giving, I steer traditional IRA money to charity and Roth or other assets to heirs. I am also a fan of qualified charitable distributions. Starting at age 70½, a QCD lets you give up to $111,000 per person in 2026 straight from the IRA, and it counts toward your required minimum distribution.
On housing, aging in place is a cash flow question first and a real estate question second. Home equity isn't cash, so the true costs of staying, including home modifications, belong in the plan before you need them.
The rest of the guide covers RMD start ages, withdrawal sequencing, healthcare and long-term care costs, estate plan updates and a checklist of common mistakes to avoid in your 70s.
Read the full article at Yahoo Finance →
