March · The Decision Calendar

The Paycheck Builder

Alex Alston

Find the gap between what you must pay and what is guaranteed for life — then see what closing it costs three different ways. Work the cheapest option first.

01Your floor today From January's baseline

Essential expensesAnnual — what you'd still pay in a bad year Discretionary expensesAnnual Investable assetsNot counting home equity

Social Security — youAnnual, at the age you plan to claim Social Security — spouse Pension + lifetime annuityAnnual, combined

02The gap

03Three ways to close it Cheapest first

Higher earner's benefit if claimed at FRAThe "full retirement age" figure on your statement Age you currently plan to claim Age you'd delay to

Safe withdrawal rate to assumeFrom February 3.5%4.0% 4.5%5.0% Annual income per $100,000 from a lifetime income quote Get an actual quote — rates move. Leave blank to skip this route.

04The upside layer What's left, by timeline

Whatever the portfolio still has to produce gets split by when you will need it. This is February's lesson made concrete — the buffer is what keeps a bad market from forcing a sale.

05What this tells you

Carry forward

Social Security figures use the standard adjustment schedule for a full retirement age of 67. The lifetime income route uses whatever quote you enter — rates move with interest rates, so use a current one. This compares the capital each route requires; it does not tell you which to choose. Bring it to the March call.