Hubby and I went to talk to a financial adviser about our retirement plan. Seemed a little late to be talking about it, since I'm already retired, but Hubby isn't, and he is a worrier. So we went.
Hubby had a 401K from a previous employer that had been losing ground in the stock market. Well, three quarters of that account was invested in the stock of that former employer, and we knew that wasn't very good, wasn't ... 'balanced'. Hubby had also heard that a couple needed to have a $1 million retirement account in order to provide a 'comfortable' living for however long you live. (Never touch the principle, just use the interest.)
Hubby also revealed he doesn't believe social security will be there when we are old enough to claim it, because the Republicans would have dismantled it by then. And even though I'm currently getting a pension, and he is working for the same government entity I worked for and should therefore get one, too, he doesn't believe those pensions will last, either, since ALL government entities are experiencing hard financial times, and the pension plan we've been paying into is underfunded. The workers have been paying into it, but our employer hasn't matched our dollars as fully as it should have. So he figures it won't be there. And I've never had a 401K. So he figures the only thing we could count on was that account of his.
He's just a little bit too much of a pessimist.
And I might be a little bit too much of an optimist, because I always figured I'd get by ... somehow.
We had our meeting, started working out a plan, and came away with some sense of relief. You know what? This is one instance when I'm glad I married a worrier.
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