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Mon, February 3, 2025

I'm 70 and retired with a $40K annual income and $200K in CDs. But will it last? Who can help me figure this out?


Published on 2025-02-03 05:21:08 - MarketWatch
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  • "This is where a financial planner can add value," Struthers adds. "They can take all the variables and tell you the chances of outliving your money and all the risks involved, like inflation and long-term care. They can give you more confidence in reaching your goals."

The article on MarketWatch discusses a 70-year-old retiree's financial concerns about whether their current savings and income will suffice for the remainder of their life. The retiree has an annual income of $40,000 and $200,000 in Certificates of Deposit (CDs). They are seeking advice on how to manage their finances to ensure their money lasts. The article suggests consulting with a financial advisor to assess their financial situation comprehensively, considering factors like inflation, potential healthcare costs, and investment strategies. It highlights the importance of a tailored financial plan that might include adjusting investment portfolios, planning for potential long-term care, and possibly exploring additional income sources or reducing expenses. The piece also touches on the general advice for retirees to review their financial plans regularly with professionals to adapt to changing economic conditions and personal circumstances.

Read the Full MarketWatch Article at:
[ https://www.marketwatch.com/picks/im-70-and-retired-with-a-40k-annual-income-and-200k-in-cds-but-will-it-last-who-can-help-me-figure-this-out-1b7fe74b ]
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