Hello to all,
I am 52, my wife is 49. I am disabled, but she works. Between the two of us we bring in about $5k a month. Our children are grown and have money that was left to them from a deceased family member, so, they are okay and we don't need to help support them. We own a home, 2 cars outright, have a small nest egg that was left to us as part IRA and part investment portfolio and we draw from the IRA as required and from part of the earned interest - in short, it is growing slowly. I have no choice about working (full time anyway) as my disability is permanent, but, I do get benefits from the government (I don't like it, but, there is nothing else to be done in my situation but take it and try to make something out of it) - I can make a little, if I can get it. If you don't know the rules, if I make more than about $1200/mo. I am considered "able bodied" but, I have not been able to and believe me, if I could, I would as I made significantly more working. The point is, our expenses are about $3k +/- a month, so I guess the question is if she wants to retire at 60, and the brings in about $2k/mo., live where we are (in other words no new house, which is okay, the one we live in is only 8 years old) , where is the best place to put the remainder to keep us going until we shuffle off our mortal coils? Thanks.
I am 52, my wife is 49. I am disabled, but she works. Between the two of us we bring in about $5k a month. Our children are grown and have money that was left to them from a deceased family member, so, they are okay and we don't need to help support them. We own a home, 2 cars outright, have a small nest egg that was left to us as part IRA and part investment portfolio and we draw from the IRA as required and from part of the earned interest - in short, it is growing slowly. I have no choice about working (full time anyway) as my disability is permanent, but, I do get benefits from the government (I don't like it, but, there is nothing else to be done in my situation but take it and try to make something out of it) - I can make a little, if I can get it. If you don't know the rules, if I make more than about $1200/mo. I am considered "able bodied" but, I have not been able to and believe me, if I could, I would as I made significantly more working. The point is, our expenses are about $3k +/- a month, so I guess the question is if she wants to retire at 60, and the brings in about $2k/mo., live where we are (in other words no new house, which is okay, the one we live in is only 8 years old) , where is the best place to put the remainder to keep us going until we shuffle off our mortal coils? Thanks.