<<Thanks. Any specific horror stories to share are underfunded retirements? I'm trying to convince them to work full time until 66, maybe even 70, and then even consider a part-time job. Both are 63 right now and would retire tmw if they could. No hobbies other than watching tv, and honestly not many friends they hang with. Prefer to stay home, watch tv, go out to dinner. Sounds like a recipe for a very short post-retirement life.They have liquid assets of about $200K, gross about $80K/year, and will get about a combined $30K from social security. So quick math here tells you they need to learn to live on less rather quickly.Thanks... >> What is the debt/equity situation in any home and extent of other debts owed?If it were me and I wanted to retire, I'd plan to live off Social Security and not use my savings for living expenses at all, reserving savings for unexpected problems long term.If they really want to retire, they should plan on cutting their living expenses to that $30,000/year NOW to decide if they are willing to do that and add further to their savings. If they prefer to keep spending, they should keep working indefinitely. Seattle Pioneer
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