I don't have a website/blog,etc. This is a first time experience for me so please be aware. BACKGROUOND: I am 72 yrs.old female, retired Social Worker, spouse of 49 yrs is retired Engineer. 4 adult children living on their own. Both of our parents raised us in a frugal invironment, out of necessity. Consequently, we followed their method of never over extending, no credit card debt, etc. PRESENT SITIUATION: We have been retired since 1991, own our home outright and are debt free. Continuing our present life style, we both feel there would be no need to worry about the future. What does worry us is the possibly of outliving our assets (we are both active and healthy). What I want to find out is how much descretionary spending we can do and still maintain our nest egg at it's current level. We have one pension; social security about equal to the pension; savings of about 12 times our annual income. Presently we live on our SS & pension income, the income from our savings and some of the minimum distribution from our IRA's each year. FUTURE: we hope to leave an inheritance for our 4 children and at the same time realize the true definition of the term "golden years." I realize that I am not painting a dark picture here but it is diffecult to go from very conservative to "having fun." I will appreciate your replys and also any information that you may know of where I may get an answer. Our investment counselor will not or can not answer my question regarding descretionary spending. http://www.early-retirement.org/sk/forums/images/smilies/confused.gif
Thank you
Thank you