Estate Planning is NOT “what documents do I need?”. Your financial needs and goals, your family circumstances and dynamics and your health are but a few of the factors and variables we at Falco and Associates PC will address with you. See some common financial questions in the article below. If we don’t have a solution for you, we will get you to the right professionals. Once decisions are made it is at that point that we create the documents that memorialize your plans and provide as much flexibility as possible for when your situation changes.
Hi!
I’ll be 65 in a couple months. I retired at 63 and am currently receiving survivor Social Security payments (from my late husband). I plan on switching over to my Social Security at 70. I receive about $31,000 yearly in Social Security. I also take $600 each month out of my retirement account.
I calculated all my monthly expenses (to include what my healthcare costs will be at age 65) and subtracted this from my monthly Social Security payments and the $600 I get each month from my retirement account and I am left with about $500.
I have about $320,000 in a retirement account (investments) and my home is paid for and valued at approximately $250,000.
The bad part is I am $46,000+ in debt (credit card, car and home equity loan).
So I am in need of advice on how to handle this debt to get it paid off. I am tempted to take more each month from my retirement account and make double payments against my debt – rather than take a large chunk out at once.
Any advice is so appreciated…
