I’m retiring on my 78th birthday, have more than $200,000 in savings and share expenses with my 80-year-old boyfriend. Will I be OK?

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I'm 78, have more than $200,000 saved for retirement and share expenses with my 80-year-old boyfriend. Do I have enough saved?

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My total income is about $65,000, including Social Security. I currently save about 41% of my salary. I have about $135,000 in retirement money and will end up with about another $15,000 to $18,000 by February. I also have about $82,000 in savings. I have no debt and live with and share expenses with my boyfriend who is 80. He has me in his will for another $50,000, should he pass. When I retire, my Social Security should be about $17,000 a year.

It’s great that you are frugal, if you’re doing it naturally and not because you feel you can’t afford another lifestyle. That being said, try to ensure that your future spending mimics your current spending, especially as you will be losing your greatest source of income. Does this mean you shouldn’t have any of your investments in equities? Of course not. You do want that money you have saved to grow at a healthy pace, but too much exposure to equities could be risky.

Menard echoes the balance between fixed-income and equities. You don’t want to have too much exposure to equities, as that’s risky, but having nothing in that asset class while fixed-income investments are paying next to nothing could have your portfolio struggling to keep up with rising costs, Menard said.

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Take out life insurance on boyfriend

Nope

Wtf is this bullshit headline 😂

Enough if you’re being frugal and have good health insurance or don’t get sick.

They can live like Queen and the King with that money in Costa Rica but in the US it is peanut money for retirement.

How much is the 80-year-old boyfriend worth?

Sheesh

Oh dear

migrate to mexico

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