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I was 60 years old and lost my job because of COVID-19. My husband earns $ 150,000. I saved $ 1.3 million. Would you like to resign for early retirement?

Dear Quentin,

I was fired at COVID-19 last year. I want to work, but finding something near my house doesn’t work, and I can’t commute long distances.

Our house and car are paid and my husband earns $ 150,000 a year. I’m almost 60 years old and he’s much younger than me. Can’t donate to my household, 401 (k) or retirement fund, am I just resigning for early retirement and relying on him?

Excluding the value of the house, there is a retirement allowance of about $ 1.3 million. We have a good relationship, but I’m afraid to depend on someone, even if it’s my husband.

Trying to be independent

You can email The Moneyist financial and ethical questions related to the coronavirus at qfottrell@marketwatch.com.

Dear independence,

A year is a long time without work, and well, as it is, in a year when everything seems to be slowing down, it may look more intense. Remember that we live in a very unusual situation and have already made a lot of progress.

You have a happy marriage, savings, a mortgage repaid, and a husband who is still working. It’s a lucky position. But don’t give up working, especially if your gut is telling you that you’re not ready even if you can afford it. Talk to your husband about your feelings.

“”
“This time can be used by volunteers to contribute to future planning and further education.”

Assuming you have the vaccine, you can use this time to volunteer. That way, you can feel that you are not contributing or further educate yourself to plan for the future. This may also be the time to seek to start a small business with less financial risk.

Up to half of Americans I can’t afford to retire.You have contributed to the long-term operation of your household by paying off your home and helping you earn decent savings for your retirement. Why choose guilt when much of what happened last year is beyond your control and ours?

Imagine a table spinning. How grateful you would be if you knew you were in a true 50/50 partnership and could get the privilege of working. Your husband will be proud and happy that he can now give back to this marriage. Accepting support and help can be more difficult. Your husband can also contribute to your IRA even if you are not working.

“”
“It may also be the time to seek to start a small business with less financial risk.”

Also, you are not alone. A pandemic can drive many to early retirement. Jennifer Schlum, senior strategic policy adviser at the AARP Institute for Public Policy, said people over the age of 62 who lost their jobs in the Great Depression. The chances of being rehired were half As 25-34 years old.

Lisa AK Kirchenbauer, a certified financial planner and founder of Omega Wealth Management in Arlington, Virginia, asks clients questions. 3 questions: “What do you need to protect or maintain? What do you need to let go? What do you need to undertake, hire and create in your life?”

From your letter, you are someone who needs to feel busy and useful, and there are still ways you can do it. American Job Center We may also provide assistance. I have made three suggestions to you, but meeting people through other efforts allows you to open up new opportunities.

Please keep in touch and tell me how to ride.

Moneyist: “My husband told me that my $ 1,400 stimulating check would be used for aluminum siding in our house.” What can I do?

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I was 60 years old and lost my job because of COVID-19. My husband earns $ 150,000. I saved $ 1.3 million. Would you like to resign for early retirement?

Source link I was 60 years old and lost my job because of COVID-19. My husband earns $ 150,000. I saved $ 1.3 million. Would you like to resign for early retirement?

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