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Greetings, idontbelieve, and welcome. You wrote:

<<Just read the delightful fairytale article on 5yr cushion. What advise to those like me that don't have either? Can anyone suggest something better than below? Thanks.

I am 66 yrs old single female. My house will not be paid up until probably April,2004. Possible SS will be $835. Unfortunately pension (work at a poor place)probably around $255. Don't want to rely on kids.

I just started this year having $50.00 pre-tax dollars taken out each payperiod (tax deffered annuity). As of May, my salary will jump $4,000 (took on additional program responsibilities)and I will probably have most of that taken out also. >>

Yes, for someone who has reached the age of 66 with no significant savings for retirement the concept of having up to five years' of income not invested in stocks must definitely appear a dream. I truly regret that for whatever reason you now find yourself in that position.

At this stage of your life, you seem to be doing what you can, particularly when it comes to putting away your $4K raise. The more money you have as a fallback, the better off you will be when you finally stop working. Unfortunately, there's not much I can suggest beyond saying it's readily apparent that the bulk of your retirement money will come from Social Security as supplemented by the small pension. Accordingly, you will be living on a very restricted budget, something I'm sure is very apparent to you. You don't have the time available like most younger folks to save substantial sums to provide what you need for a better life, and that's something no one can change for you. Thus, just do the best you can with the limited working years you have remaining. You're obviously on the right track in doing so, so keep it up for as long as you can.

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