Retirement
My wife and I are both retired and in our mid seventies. Our house is all paid up and have about $150k in IRA acct . We have one son who is in early fourties is still single. Should we sell the house and live in a senior village? Should we get long term health insurance? How about giving the house to my son?
Thank you.
Terry Says
Whoa — that’s a WIDE variety of questions. Odds are you each have at least another 15 years to live== – and maybe longer! I don’t know what other income you have, besides SS and maybe pension. So I can’t opine.
What I CAN tell you is this would be the perfect time for even one session with a fee-only financial planner — a FIDUCIARY, who is not trying to sell you something! You can find one you can trust at Wealthramp.com.
Or spend $10 and download the current 3rd edition of The Savage Truth on Money from Amazon. Read that before your meeting with the planner, and you will be far better prepared!
