I’ll be 65 in a pair months. I retired at 63 and am at present receiving survivor Social Security funds (from my late husband). I plan on switching over to my Social Security at 70. I obtain about $31,000 yearly in Social Security. I additionally take $600 every month out of my retirement account.
I calculated all my month-to-month bills (to incorporate what my healthcare prices can be at age 65) and subtracted this from my month-to-month Social Security funds and the $600 I get every month from my retirement account and I’m left with about $500.
I’ve about $320,000 in a retirement account (investments) and my house is paid for and valued at roughly $250,000.
The unhealthy half is I’m $46,000+ in debt (bank card, automotive and residential fairness mortgage).
So I’m in want of recommendation on deal with this debt to get it paid off. I’m tempted to take extra every month from my retirement account and make double funds towards my debt – somewhat than take a big chunk out directly.
Any recommendation is so…
2023-01-21 16:28:00 I’ll be 65 quickly, have $320,000 in retirement financial savings and a paid-off residence however I’m $46,000 in debt – ought to I take extra money out of my investments?
Link from www.marketwatch.com