The Boston Globe profiles retirees, Claudette and Manny Wise, who, at ages 71 and 83, have concerns about their retirement funds.
We should all have such concerns!
Since they only get $20,000 a year in combined Social Security, I assume they didn't have spectacular earnings. (This makes sense when one considers that Manny is a former bandleader.) But they have over $900,000 in retirement funds, which means they did some spectacular saving during their income-producing years.
My question is why they don't want to invade their principal--why save it at their ages? The article doesn't mention children so I'm assuming they don't have any.
I was also interested in the financial planner's take on annuities. I still haven't figured out what I think about them or whether they would be useful when I retire.
At any rate, while the Wises have concerns, I was impressed to see how well set up they really are in their retirement.