advisor/investments
we’re 91, do we need an advisor (ours retired), or is investing in cd’s or T bill enough? we have aabout 500k plus house, 80K in an IRA which we take out 15K per year, maybe 20K with inflation, and 100K in annuities (which is taxed heavily when cashed.
Terry Says
First, congratulations on reaching your 90s in such good shape. Can I ask you one question, or maybe two?
First, have you made a will or revocable living trust (or had it reviewed in the past 5 years)?
Have you made your Revocable Living Trust the “name” on all your investment accounts and on your home?
Have you reviewed the beneficiaries of your IRA?
Do your annuities have beneficiaries?? Have you confirmed that?
Have you made a healthcare power of attorney, and given a copy to your physician?
Having a financial advisor review your situation is not only about investments and withdrawals. YOu seem to be doing a very good job at that! But it might be worth a checkup with a FEE-ONLY, FIDUCIARY financial advisor if you haven’t covered those other bases. Go to Wealthramp.com — Here’s a link to an explanation on my website — so you can trust the person you meet with.
Other than that, enjoy!!
