Retirement fears
My wife and I worked full time are whole life . We have 3 children we put them thru college and 1thru law school with no loans .My children are doing fine .My wife and I afraid that if we retire we even with 2 million in mutual funds and with a small pension that we might not have enough to retire I have health care with a cost of 400 A month and no other death.Are we worried for nothing . I’m 62 my wife is 60Thank you
Terry Says
First of all — huge congratulations on managing your finances so beautifully along the way. Second, you want to wait at least 8 years until retirement — and save all you can along the way. Not all of it belongs in the stock market. You should have a cash reserve of at least two year’s living expenses.
I can understand your worry — but don’t let it destroy these great years of accomplishment and satisfaction. If you want more specific advice, I suggest a meeting with a FEE-ONLY Financial planner who is a FIDUCIARY – someone who is not trying to sell you something to earn a commission. You can find one you trust at www.Wealthramp.com. He or she will look over your entire financial situation — not just your investment portfolio — and perhaps give you not only a plan, but the comfort you need to enjoy ife.
