US Savings Bonds

Archive for September, 2006

Question: I am 50 years old,I want to retire in the next five years do I ?

Have enuff saved to retire in a modest life style? I will have worked for the federal gov for 30 years with a high 3 salary average of $110K and have my retirement plan in CSR which will pay me an annunity plus I now have $135K in the TSP but it will be more in 5 years I put in $20K a year now.
I have $55K in a CD ,$142K in a money market savings acct. I have $27K in a 401-K acct at an old job. I own real estate (2 homes and 11 acres of land)valued at $350K and I have $10k in US Savings Bonds. I have $700 dollars income a month,until 2018, from a loan I loaned a family member. I own cars and boats worth $50K , Do you think I will be able to retire at age 56 and be able to survive until I die of old age?

Answer: I don’t care how much you have in there, the question is: Will it last long enough during your retirement years? Average life expectancy is 86-88 years old. Let’s say you live to age 90. Is all this money you have going to last you for the next 35+ years?

No one can know for sure. You have take in account of rising cost of living, inflation, how much you need each month, health costs, and so on. You have to sit down with a financial advisor or a licensed professional who can do a financial need analysis on you. I got mine done for free from Primerica. Other companies charge a fee of $1000 or more to get it done.

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