I have a bank account with 80 grand. Do I still need to work?

Question

I am single and I live alone. All my bills are paid off and I receive a retirement from the U.S. Air Force.

Answer 1

Depends, what percentage of your retirement does it take for you to live, and how much is the government picking up of your healthcare?

Answer 2

$80,000 is enough to safely and consistently earn you an average of $3,600 a year at 4.5%.  So if your retirement payments plus an extra $70 a week is enough for you to live on, you'll be fine...

Thank-you for your service...

Answer 3

I'm in the Air National Guard in Wisconsin.  I'm also a Financial Adivsor and to determine if 80K is enough we need more info!  How old you are...what other sources of income you have....how do you want to live...etc.  Send me a personal message and I may be able to help you out.

Answer 4

Set up an annuity ASAP.  Guaranteed income for life.

Answer 5

u need to contact me asap

Answer 6

DearRobert P,

You do not state your age, I reckon that $80,000 is not really that much for you to be retired permanently. If you use the money and invest wisely you can muliply that value  maybe four times.

Answer 7

I'm retired Air Force, too.  80 grand isn't enough to see you through retirement.