Question: I am not qualified to make the decisions necessary for our situation, but hope that someone with your knowledge may help guide me so my husband and I can make it for our remaining 20 years. The situation is this:
We don’t have any retirement income other than savings. For years, my husband invested in the stock market and lived very simply, except for one extravagance, an in-ground backyard pool which we built about 20 years ago. Over the years, he was able to save/earn close to $1 million in the stock market, then 2008 arrived and he was advised by our “financial manager” to keep all his money in the market, though the market tumbled and tumbled. In the end, we lost $420,000. I gasp when I realize our adviser allowed that to happen at our age; in retrospect, we think she probably should be sued, although that’s not our style or ability to do.