Who Wants to Talk About Investments?

We've got about $150,000 in retirement savings at 52... also a pension that I will start collecting on (about $1600/month) when I'm 58.


We've got the $150,000 in S&P 500 index funds.


How are you setting for retirement? And where do you invest the money?

I am not prepared at all. I'm 52 and have nothing.

Dang. Sorry to hear that.... It's never too late to start. My dad is in his 70's and has nothing- but he makes out pretty well with social security payments.

Sounds like you're in good shape, shakespeare47. I am already retired (disabled) and have an investment company to handle my savings. I also collect social security and a pension.

@Travelinglady... I've considered looking for an investment company. How does one go about finding a good one?

Talk to your friends who are in the same position. Get recommendations from them. Do your research. If something sounds to good to be true then it is. Consider your needs and what you have available. Are you in a position to speculate and get high returns knowing that they do come with high risks or do you want slow and steady but reasonably secure return rate with lower returns? Take your time to make up your mind.

@possum220 Thank you. Do you have a lot of experience?

@shakespeare47 - I have probably had as much experience as anybody else. Seen too many people being duped into high rise apartments thinking that a tenant will cover the costs. They don't get a tenant and they lose their investment. Good old bitcoin. What a rort that was and pyramid schemes! My gut has served me well.

The friends in your country will know who to trust. Ask them about their financial advisors. I know this is a well trotted out phrase "Don't put all your eggs in the one basket" but it is true.

Do not under any circumstances trust anybody who comes to you first that you don't know with some "good deal". Do not give out bank details ever on the internet. It is sad to see retirees being duped by people over the internet out of their retirement funds.
Stay safe.

@possum220 I was just surprised that you chimed in when my question was directed toward Travelinglady... and she has had experience. Can you explain why you did that?

I chimed in because I thought this was an open thread. I did not realize this was a private discussion. Apologies.

One of my banks recommended one to me. You can also find out which ones exist and see which ones get good ratings. We had some money with another bank's investment branch (Wells Fargo), but found out later they can't customize the options to suit individual clients.

I do agree with possum that you can ask people you trust what company they use and how happy they are with it.

Shakespeare, that's great you've got a pension coming to you. So many people don't, even people who've worked a long time at some bigger companies.

Both my husband and I have 401Ks that our companies contribute(d) to. My husband's amount is OK. Mine doesn't have nearly as much in it, because I put off contributing to it for a while, and then I went on disability. Luckily, our house has a lot of equity. It almost tripled in value since we bought it, though we did take out a home equity loan for a particular amount, at one point. Beyond these things, I guess we'll be depending on Social Security (if it's still available) and a possible inheritance, which we can't be 100% sure will be there. [There's always the chance of nursing homes, plus my dad is an alcoholic and has untreated bipolar disorder.] As for the home, we do plan to move to a lower priced home in a few years.

Health insurance is obviously a concern. We have had health insurance through my husband's employer (he still works), plus I have Medicare on SSDI as a backup. However, who knows what to expect in the future. Our move may be to Europe, where health insurance may be more guaranteed and medications are much cheaper. My husband is a dual citizen of both the US and a European country, though pretty much all permanent residents in most European countries have protections in terms of health coverage. It's a shame to think that we might have to move away from the US for such protections. We'll see what happens in the future.

My husband is almost 14 years older than me. It is my hope that I will get back to work sometime in the future, at least on a part-time basis. I'm thinking of occupations that I could do from home, too. Ditto for hubby. Many people must work until they die. Gone are the days when many people retire at 52 years old, like my father did. He only could, at that age, because of my mother, then my mother's inheritance, and then him inheriting my mother's money when she died. He has invested much of that money. The stock market has been doing well. Unfortunately, many people aren't well enough off to be making oodles from a stock market. Many people in the US don't have any money to be playing the stock market. And...stock markets can crash. It's almost always the common citizen who pays the biggest price. Again, we'll see what happens in the future.

Absolute reality. Not fake news!

@BirdDancer thanks for sharing.

I plan to keep going to school for the foreseeable future. I'm currently working on a master's degree and would like to get a doctorate. I'll start drawing my pension when I turn 58, and I suspect my wife will keep working into her 60's. Her employer matches some funds that she puts into her retirement account. We should be able to keep adding to the $150,000 for at least 15 years.

It is fortunate that you have the option to live in another country. Some people would jump at the chance to live in another country! I toy with the idea, but I'm not sure if I can convince my wife.

I've enjoyed investing my own money since I was in my 20's. I was even the president of an investment club where we choose stocks to invest in as a group.

Your plans sound exciting and very rewarding. Good luck with your continuing education!

I know some people would jump at the chance at moving abroad. I have loved traveling for most of my life, but I don't want to leave my home in the US. I was born in my state, lived in my state most of my life, and deep down wish I could live out the rest of my life here. The possibility of needing to move to Europe, for me, would be one take more out of necessity. Hopefully, it won't have to happen.

@BirdDancer
There are other possibilities besides Europe, though, right? I know some people choose to retire in Mexico, for example, because the cost of living is so much lower.

My husband is a European. We would be interested in Europe because of the family ties and language familiarity (i.e. French language).

I was looking into my pension, and I can actually start drawing money from it when I'm 55- that's only 2 years away! But, it will be about 30% less (because the money is spread out over more time). My current plan is to start drawing it at 55. We refinanced our house earlier in the year, and decided to put some of the equity in our retirement account- so now that account is at $193,000. Even at an average of 9% ROI a year, it looks like we're pretty well set to retire at 65.

I just started my 401K plan last year. Supposedly if I keep adding to it I’ll have quite a bit by the time I’m 50 or so. Considering I’m only 26, I need to save a ton until then. I’ve thought of investing in stocks before though.

Well - it's over 5 years later, and our investments are still doing well. Our investments have more than doubled since my Jan 2020 post, and I've started getting my pension. Unfortunately, my pension will be the same monthly amount with no adjustment for inflation.