Reported 6 months ago
A woman aged 54 with $2.6 million saved is contemplating early retirement at the urging of her 68-year-old husband, who has minimal retirement savings. She has $1.5 million in retirement accounts, $1.1 million in an individual investor account, and $1.6 million in real estate, while her husband has $157,000 in an IRA and $200,000 in an annuity. They have a child together and no debts, with a 529 plan for the child's education. Her husband is on Medicare and brings in $75,000 annually from part-time work and Social Security, leading her to consider working until 60 or 62 for reduced pension benefits. Despite her concerns about healthcare and her husband's retirement, they are advised to align financial goals, consider ongoing expenses, and set up estate planning for a secure future.
Source: YAHOO