I am 60 years old , just lost of my job of 20 years and went thur a divorce. I would like to retire at 62, but I don't know if I have enough saved to do that. I own my home free and clear. I have $77,000 in CD's and $120,000 in my IRA, My social secuity will be approximately $900.00 a month. I will receive my ex penison once he dies of $800.00 . My salary at this time is $27,000 a year before taxes. I have no credit card debt and my car is paid for, so what do you think?
2007-01-09 04:03:04 · 3 answers · asked by springer 3 in Business & Finance ➔ Personal Finance
money.com has a number of ways to figure out your retirement needs.
2007-01-09 11:07:06 · answer #1 · answered by sm4125 3 · 0⤊ 0⤋
A tried and true calculation is: You should have an income equal to 80 percent of your present salary, going into retirement.
2007-01-09 04:07:36 · answer #2 · answered by robert s 2 · 0⤊ 0⤋
u r safe man and just need to enjoy life. it seems u have worked hard throuout your life but now this is the time to enjoy but at the same time dont be spendthrift. Share some good moments with me as well. good luk man
2007-01-09 04:08:49 · answer #3 · answered by ravishr 2 · 0⤊ 0⤋