Symplelife
Dryer sheet wannabe
- Joined
- Jul 30, 2015
- Messages
- 10
I met with a financial advisor who told me that unless I work full time until I'm 64 I will run out of money by the time I'm 85 (I'm 57 now). He also wanted me to roll all my money into funds with his company as well as keeping my annuity with them. My question is - I understand that inflation will eat up some if what I make from the combination of the annuity and SS (which I plan to take both at 65) , but is it possible to just "run out of money"? Also, how wise is it to have all your money tied up with one company? Should I diversify with several companies and also look into tax exempt funds to help reduce costs when I do retire? I would like to stop working this year and work part-time (realistically making half of what I do now) and not fund the annuity.