Help Me Retire: I’m 92 and will probably live to be 100. I have about $250,000. Thoughts?

by | Oct 21, 2023 | Stock Market

Dear MarketWatch,  I have been a single woman for many years. I am now 92 years old with a home that’s paid off and no debt. I have a few health problems, but nothing major, and I truly enjoy my family and friends.   My finances include $140,000 in cash and $109,000 in a conservative portfolio of stocks and bonds. I’ll probably live to be 100.  

Your opinion, please? Also read: ‘I’m losing sleep’: We’re retired and buying a $1.3 million townhouse. With everything going on in the world, is it too risky to make a move? Dear reader, Longevity can be a beautiful thing when you’re surrounded by loved ones and in good health — but as you know, you still need to plan for what comes next.  No one really knows how long they will live, nor can they truly be sure what their quality of life will be like in that time. Aiming to live to 100 is often a safe bet, especially for someone who is 92 and healthy. You might live even longer than that.  I’ll give it my best shot and try to help you with the information you’ve given me. You could live frugally on $1,500 a month — or $18,000 a year — which would likely preserve your assets for the next eight or so years. You didn’t mention if you have other retirement income — Social Security or a private pension — or if you need to draw down your cash or portfolio.  Here are some thoughts for your consideration. As you are no doubt aware, medical …

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