earlybird
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 04 Sep 2005
Location: Minnesota
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| Income versus retirement |
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I am a 50 year old female, working a long-term temp job. I am in the process of selling my house, which, after all debts are paid off, should leave me with $20-30K. I plan on buying a small motorhome and becoming a full-time RV'er, working part-time as needed. I have no retirement plan or other savings. I'm wondering how much of this money I should be putting toward a retirement fund versus something more liquid for living expenses, and what kinds of investments I should look at for both. Note: My new lifestyle means minimal living expenses, other than gas and insurance, and plan on taking on temp jobs as needed during my travels.
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Sun Sep 04, 2005 3:33 pm |
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MattL
Senior Member
Cash: $ 46.85
Posts: 234
Joined: 25 Jun 2005
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| Re: Income versus retirement |
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quote:
Originally posted by earlybird
I am a 50 year old female, working a long-term temp job. I am in the process of selling my house, which, after all debts are paid off, should leave me with $20-30K. I plan on buying a small motorhome and becoming a full-time RV'er, working part-time as needed. I have no retirement plan or other savings. I'm wondering how much of this money I should be putting toward a retirement fund versus something more liquid for living expenses, and what kinds of investments I should look at for both. Note: My new lifestyle means minimal living expenses, other than gas and insurance, and plan on taking on temp jobs as needed during my travels.
If you are 50 with no retirement savings you should consider putting almost all of it toward retirement. I would keep 6 months of living expense in an emergency fund and invest the rest for retirement. You will also want to start contributing regularly to the retirement fund.
Debt Elimination
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Sun Sep 04, 2005 8:24 pm |
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