I’m 65, have $500,000 in cash, no ‘impressive’ work resume and am terrified of investing — can I retire?
Now the bad news: – Other than anticipated Social Security (approximately $1,300/month if I wait until full retirement age, $1,200/month if I retire at 65), I have no pension or other income streams. – I don’t have an impressive work resume that could lead to lucrative employment in retirement. Is there some way I can make $500,000 in savings last, especially given the abysmally low interest rate environment?
I gave my daughter $20K to start a company with her husband. They divorced and he got the business. Can I ask for it back?
The Moneyist replies: ‘I understand why this might stick in your craw, and you feel that the return of that money would be the right and proper course of action.’