• Question
  • In view of my military retirement, and long term healthcare, why will I run out of money?

    Asked by a 85 year old man from Escondido, CA on 6/4/2014

    In view of my military retirement, and long term healthcare, why will I run out of money?

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  • Categories: Retirement Planning, Out of Money

Answers

  • Steve 

    Steve 
    NewRetirement

    San Francisco, CA

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  • Basically our system is calculating your projected date of using up your liquid savings - since you have a pension you should have some income for life. Based on the data you provided - your expenses exceed your income, so you'll likely have to draw down some of your savings each month to help cover your expenses.

    If you want a second opinion you can request a free consultation from a financial advisor here: https://www.newretirement.com/free-retirement-consultation.aspx

    Hope this is helpful.

  • Login to rate this answer:   Answered on 6/8/2014
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.