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We're 66 and have been retired for 15 years. After seeing what our "financial advisor" allowed to happen from 2000 to 2002, we took over managing what money was left ourselves.

Your comment of " We need to maximize our income with what cash we have left" is concerning to me. When we faced the same situation, the first thing we did was sell our Florida retirement dream home and cut all other expenses to the bone. Living on the old envelope system and budgeting carefully, over a period of 10 years we have crawled and scraped out way back to financial security and stability.

We started dumping our stock portfolio in 2005, instead opting for those old conservative CDs that at the time were paying 5.25%. We've never played around with bonds as we know nothing about them *and for us, that's OK). Currently we are in cash, CDs, gold and silver.

In 2006 we left Florida for good and left behind the outrageous real estate taxes, homeowners insurance & auto insurance. Even paying personal property taxes on our vehicles and state income taxes, we are money ahead.

Please, take the time to consider everything.....some of our decisions certainly didn't make either of us happy, but that's what adults are supposed to do....make the tough decisions.

In closing, look before you leap. If your only goal is to increase income, your future could look exactly like your past.

Kitty....who knows full well that her opinion doesn't always agree with other on the Fool.
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