By Alessandra Malito

Have a query about your personal retirement financial savings? E-mail us at


I am 52 years outdated and in typically good well being, single, no youngsters. I used to be an emancipated minor so I did not get the most effective begin in life. I subsequently went into IT and bought caught up within the dot-com bubble bursting and was laid off thrice in three years as one after one other firm wiped their IT departments out between 2000 and 2003.

Regardless of all this…I personal a house in a superb location (close to buying and midway respectable faculties) at the moment valued at $275,000 and is paid off. My automotive and pupil loans are additionally paid off. My bank cards are paid off month-to-month. My whole 401K holdings are solely about $190,000, and at the moment my earnings is about $40,000.

I’m in search of a better-paying job. I put virtually the max right into a Roth and 10% (with a 6% match plus profit-sharing) into a daily 401K. I’ve an emergency fund that ought to final two years if all the things goes sideways.

The previous seven years my portfolio has misplaced practically $15,000, and I’ve even modified brokers. I’m not a very aggressive investor, and am dismayed on the pretty fixed losses. I even acquired a monetary adviser however the losses have not stopped. I began placing cash into CDs and T-bills alone to staunch the bleeding (4.5 and 5% APR, respectively).

I’ve a incapacity beneath the ADA however not extreme sufficient to qualify for SSDI. That stated, I do not suppose I will work for much longer. I’m hoping to buy a smaller home within the woods not removed from my present home and lease the present one out — present price reads about $2,000/month — even when I hold solely $700/month, I can stay on that from my a few years dwelling beneath or simply above the poverty line.

My concern is that I’ve no household and no person to deal with me ought to I want it. I do not wish to die alone and forgotten in my residence, or uncared for in a nursing residence the place no person cares about something however the cash. I am unable to afford long-term-care insurance coverage, and I am undecided what else to do to organize for this. I do stay in an space with a bunch of associates (we have been associates for practically 30 years, there’s about 100 of us between jap PA and NJ) and we’re beginning to look out for one another now that we’re all in our 50s and 60s, however I am one of many youngest — I am going to most likely outlive most of them, so cannot depend on that community. What ought to I do?


A Nervous Cuppa Jo in SE PA.

See:Now we have $2 million for retirement and wish to spend each single greenback earlier than we die

Expensive Nervous Cuppa Jo,

I am so sorry to see you so anxious about this. It is a very reliable and customary concern, so know first that you just actually aren’t alone in occupied with this.

Though you say you “solely” have $190,000 in retirement financial savings, you do sound such as you’re very on prime of your funds, and that’s a formidable accomplishment. Having no debt and paying your payments with a completely owned residence are all fantastic duties to examine off earlier than retirement. On this letter, I am going to focus extra on what you are able to do to be snug along with your issues about dwelling alone as an alternative of speaking concerning the funds.

Learn:’There’s a whole lot of lonely folks on the market.’ Is loneliness killing you?

For starters, look your long-term plans straight on. It is sophisticated, nerve-racking and generally uncomfortable, however getting a transparent, agency deal with on what you need to your outdated age and potential well being wants is crucial, whether or not you are single or have a partner and 10 children. Your community of associates might most likely even allow you to plan this out, since they’re all most likely occupied with their very own conditions — and if not, you are serving to them out by beginning the dialogue. In case you’re dedicated to dwelling in your space, what amenities can be found to you and would you be capable to afford them?

If not, what do the facilities which might be reasonably priced (akin to with Medicaid) seem like? You talked about worrisome situations at locations that do not care “about something however the cash” — are there any locations that don’t make that checklist that you just’d wish to study extra about? One choice is to checklist the entire amenities out and analysis them. Have a look at their web sites, examine evaluations, make some cellphone calls. It’s possible you’ll not want these locations for a really very long time (at which level, there could possibly be new locations that pop up) — and it’s possible you’ll not want them in any respect — however if you happen to discover a place or two you want, it’s possible you’ll be much less careworn about doubtlessly shifting to a facility like that sooner or later.

Additionally see:I am 54 and the first earner however ‘professionally, I’m exhausted’ — we now have $2.18 million however what about healthcare?

This subsequent thought might sound utterly on the market however folks actually do it — not simply Rose, Blanche, Dorothy and Sophia from “The Golden Women.” Some associates are selecting to room with each other of their outdated age. With a community as expansive as yours, this is likely to be one thing a couple of associates of yours is likely to be involved in sooner or later. You’ll be able to’t know for certain what is going to occur in thefuture primarily based on age. Even in case you are the youngest, a few of your older associates might very nicely stay alongside you all through your aged years.

In case you’re anxious about being alone, another choice is to make extra associates nearer to your personal age, akin to via group facilities and occasions or volunteer work. Even if you happen to do not find yourself dwelling collectively beneath one roof, having a community nearer in age and distance might make you’re feeling extra snug about being alone in your house and older years. You will know that somebody shouldn’t be too far to return examine on you, or be a companion to you, and that in and of itself is a comforting thought.

Readers: Do you could have solutions for this reader? Add them within the feedback beneath.

Have a query about your personal retirement financial savings? E-mail us at

-Alessandra Malito

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