Home     Forum     401k     401k Rollovers
    Register   Login   Members   Search   FAQs     Recent Posts    

Help with current situation please

Reply to topic
Money Talk > Investing, Stocks and Bonds

Author Thread

Cash: $ 2.60

Posts: 12
Joined: 05 Sep 2017

Help with current situation please  Reply with quote  

im 52 soon to be 53. I lost my job of 31 yrs due to covid. I recently got hired but Im making less than half of what I was before covid. I have zero debt other than utilities. I have saved around 415k in cash thats sitting in a high yield account..currently at .40....was 2.68 last summer.
I also have a IRA with around 88-89k currently. At my age I dont feel I will ever be in the situation to earn what I was making. I have my bills figured out to as to what it cost me a year to currrently live.....which is about 8000 a year. Based on my SS estimate I will recieve anywhere from 1680 dollars to 2800 depending when I take it. Id like to use this 400k to my advantage....Im not comfortable in taking my contribution out of my savings at this point either....so Im just going to let my IRA do its thing. Im not savy in investing what so ever. Ive just worked and saved over my life and lived within my means. Looking for any free advice as to what to do at this point in my life.

Im ultra conservative and feel like with only 9-10 years till i could retire Id like to make the most of it obviously. thanks
Post Wed Apr 07, 2021 8:56 pm
 View user's profile Send private message

Reply to topic
Forum Jump:
Jump to:  
  Display posts from previous:      

Money Talk © 2003-2018