Nerhar
Confused about dryer sheets
Hi my name is Nero and I am 68 years old. I live with my wife in a smaller town and even though we are empty nesters we still support our youngest son who is still going to college and should graduate in a year or two. I am still working as a Consulting Director for 75% trying to do what I enjoy for the other 25%.
Frankly I thought I could continue to work for another couple of years but am realizing that it is time for me to retire. Even though I still add value to my company there comes a time when you have to leave it to the youngsters. Needless to say that retirement maybe as early as next year and I am not prepared. Financially I have about 300 k in cash, 350k in a taxable account in stocks and about 2.2 mm in retirement account w 100k in a Roth. Our house is paid for and I have another condo worth about 200k which we rent out on a monthly basis for 2k a month. My company is a ESOP company and I should get a stock for about 500 k. The 2.2 mm rollover Ira is mostly in dividend and growth stocks w very little in bonds. I had a financial advisor at MS for five years when I realized that I was wasting my money in fees and now I do all my investments myself with guidance from another acquaintance who has been key in the current strategy.
The biggest thing I worry about is not being prepared for retirement.. I fear that I need to stay engaged , do charitable work.. help kids and grandkids …I have 4 kids in all 3 doing well and 7 grandkids. I have not thought thru long term health insurance, downsizing. Etc etc. any thoughts you all may have in this area along with the way my funds are invested would be greatly appreciated!!
Frankly I thought I could continue to work for another couple of years but am realizing that it is time for me to retire. Even though I still add value to my company there comes a time when you have to leave it to the youngsters. Needless to say that retirement maybe as early as next year and I am not prepared. Financially I have about 300 k in cash, 350k in a taxable account in stocks and about 2.2 mm in retirement account w 100k in a Roth. Our house is paid for and I have another condo worth about 200k which we rent out on a monthly basis for 2k a month. My company is a ESOP company and I should get a stock for about 500 k. The 2.2 mm rollover Ira is mostly in dividend and growth stocks w very little in bonds. I had a financial advisor at MS for five years when I realized that I was wasting my money in fees and now I do all my investments myself with guidance from another acquaintance who has been key in the current strategy.
The biggest thing I worry about is not being prepared for retirement.. I fear that I need to stay engaged , do charitable work.. help kids and grandkids …I have 4 kids in all 3 doing well and 7 grandkids. I have not thought thru long term health insurance, downsizing. Etc etc. any thoughts you all may have in this area along with the way my funds are invested would be greatly appreciated!!
