Retirement –is it possible?!
I am 62, my wife is 58, I have two kids (twins)at first year University and one going in in 2 years. I have $200 K in a ROTH Ira, $200 K cash in CD’s, i-bonds and hard gold. My house is worth $550K and I have zero overall debt. I also am employed making $135K/year, am the sole bread winner, health insurance source. My health is good and I love my family. Will I ever be able to retire or do you have some financial ideas that may help me get there, if at all. Your straightforward honesty would be appreciated. Please don’t AI this question.
Terry Says
You don’t get AI from me — just the Savage Truth. But you’ve done an incredible job so far. How are you planning to pay for college? Will you have anything left after putting the 3 kids (my math!) through college?
OK, I have two suggestions for you:
1. Do it yourself. Get the REAL advice you need at Maxifi.com — Larry Kotlikoff’s award-winning online planning tool. They have advisors there who can help you through the process. I highly recommend it if you are willing to do a bit of work. OR,
2. Wealthramp.com. Read this article about how Pam Krueger will match you with a fee-only FIDUCIARY certified financial planner. This will be easier, and you certainly can trust her carefully curated list of planners.
Please write back and tell me what you decided to do. This is not a matter of guesswork or a blog post. It’s a true science and you must do the work to create a plan that has the best chance of success.
