Dear MarketWatch, I will be 60 in September, have $95,000 in cash, work part time ($30,000 yearly) for insurance and contribute 10% plus the employer match of 8% to a small 401(k). My home and car are paid for, I don’t have any other debts, and I am single. I live in South Carolina where the cost of living is manageable.
I would like to start taking my Social Security at 62, (around $1,100 per month) and maybe still work part time. The job is very physical and not something I would be able to do for more than a few more years. At 64, I will have a pension of $1,900 per month. I don’t spend on anything unless it’s really needed. For example, a new roof last year. I have a potential inheritance of $300,000, but I know not to count on it as a sure thing. I think I will be fine financially, but have been to a couple financial seminars that say otherwise. Are they truthful or just looking for a customer? Curious George See: ‘Is my financial planner crazy?’ We’re 55 and 60, five years from retirement and were told we should invest more aggressively Dear Curious George, Financial seminars can be a really great starting point to vet for yourself where you are in your journey to retirement, so kudos to you for attending multiple! Just like those financial seminars, I have limited information on your financial situation so I …