My wife and I retired approximately 5 years ago at around the age of 56. My wife is slightly younger. By the time we retired we had paid off our home and actually had no debt after the first year of retirement.
We purchased an RV so as to be able to travel the country and visit other relatives.
Total combined retirement pensions are slightly over 20,000 dollars a month before taxes and medical insurance payments. After taxes and medical insurance we clear approximately 16k monthly. We typically move between 5000k to 8000k a month into our savings account. The rest we live off as we travel.
We have approximately 700,000k + in cash and 350k in a 457 account that earns us 4% yearly.
The question I have for you all is what to do with this cash and the monthly sum of between 5000k and 8000k.
While we have good pensions, we are always concerned with the stability in these retirement pensions. We are looking for a safe place to put this income and not our mattress.
Thanks for any and all thoughts and suggestions.
We purchased an RV so as to be able to travel the country and visit other relatives.
Total combined retirement pensions are slightly over 20,000 dollars a month before taxes and medical insurance payments. After taxes and medical insurance we clear approximately 16k monthly. We typically move between 5000k to 8000k a month into our savings account. The rest we live off as we travel.
We have approximately 700,000k + in cash and 350k in a 457 account that earns us 4% yearly.
The question I have for you all is what to do with this cash and the monthly sum of between 5000k and 8000k.
While we have good pensions, we are always concerned with the stability in these retirement pensions. We are looking for a safe place to put this income and not our mattress.
Thanks for any and all thoughts and suggestions.