Comments on: More on Money Question

By: Savvy Steward

Savvy Steward — Fri, 13 Apr 2007 21:13:20 +0000

50 years old and $700 saved. That’s a tough one. I still want to know more info. Any expected income from Social Security or pension?

If not, maybe direct that $1100 towards an immediate annuity and then she needs to start working. More and more people are delaying retirement and working into their seventies. Of course, this probably means that her retirement will be shortened.

I think the biggest issue for her is unexpected expenses and how she will pay for it. Whether medical expenses or other things, she’ll want a bigger buffer.

By: The Sun

The Sun — Thu, 12 Apr 2007 16:53:00 +0000

It’s true that without knowing any background information, people will approach the problem differently and the answers can be far apart from each other. Hopefully the reader can find an answer that fits best her situation.

BTW, I really like your chart.

By: majic

majic — Thu, 12 Apr 2007 15:29:58 +0000

Thanks for the link back! It’s interesting to see how such a seemingly simple question can be approached and answered so many ways.
The thing is – all of them are correct depending on circumstances!