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Author: FuwlEd Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1491  
Subject: Re: Parents Nearing Retirement Date: 8/3/2006 12:42 AM
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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...
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