What alocation st/b: 72 y.o., $7700 mo net pensions, $525k IRA,
Age 72, single, F, get $7,700 net monthly guaranteed pensions & SS; mortgage $115k (10 yrs left on 15 yr @ 2.3% fixed), have $15k chicken $, and $550k in vanguard IRA mutual funds, now allocated 35/65 st/b. Should I be at 60/40 or what. Friends have suggested 70 or even 80% in stocks. Too afraid to be that risky. Plesse advise, thank you!!
Terry Says
Without knowing more about your situation, it looks like you are in pretty good shape.
Did you look into Long Term Care Insurance (a combo policy life/ltc)?
And do you have an up to date estate plan? (Watch this video.)
And remember that next year you must take your Required Minimum Distribution, so be sure to withhold income taxes as you withdraw the money!
Sleep well!
