Me. 60, unemployed as of 3 weeks ago. Unemployment for next year at $585.00 a week. SS at 62 should be around $1300.00
Spouse. 64, retired (due to health). SS at $900.00 and small pension at $300.00 per month for $1200.00
Together when I hit 62 we'll have $2500.00 a month income.
House is paid. No debt!
We have 127k in savings. I'm am considering investing in an immediate annuity getting $600.00 a month for the next 25 yrs or $500.00 a month for life.
This would bring total income to about $3100.00 a month or $37000.00 a year.
Current expenses are $1700.00 a month which includes health insurance, medications, living expenses, taxes.......
Is anyone currently experiencing this type of income and are you living well?
Anyone have any suggestions?