I will speak frankly. DW and I have a home worth $225,000 and other assets totalling 1,600,000. Of those assets, 1/3 is cash or cash equivalents and the rest 80% bonds and 20% stock. The cash is from a recent inheritance. We have one child, no longer at home, who is disabled and on SSI. We give him small amounts to help out, but don't want to jeopardize the SSI and especially his medical coverage.
DW and I are both 51 with chronic health problems. DW is insulin dependant diabetic. She does not work. I work and wish to retire. Both of us are on various medications. You all talk about living to 90 or 100. I am being generous if I estimate we both live to 78 to 80.
We have no pensions and no retiree benefits at all. We can buy health insurance currently for 500 per month with a 2000 deductable, and which covers 80% of costs. Premiums can go up once a year. They also go up at age 55 and every five years after that.
Our estimated expenses, including the health expenses which are a good part of the budget, are 50,000 per year.
What do you think? Do we have enough to retire? We want to have time together to do things while we are healthy enough.
DW and I are both 51 with chronic health problems. DW is insulin dependant diabetic. She does not work. I work and wish to retire. Both of us are on various medications. You all talk about living to 90 or 100. I am being generous if I estimate we both live to 78 to 80.
We have no pensions and no retiree benefits at all. We can buy health insurance currently for 500 per month with a 2000 deductable, and which covers 80% of costs. Premiums can go up once a year. They also go up at age 55 and every five years after that.
Our estimated expenses, including the health expenses which are a good part of the budget, are 50,000 per year.
What do you think? Do we have enough to retire? We want to have time together to do things while we are healthy enough.