I’m at the end of the rope and I believe I covered everything but I’m seeking advice or help. My current situation: Retired at 55. Wife at 53. My pension : $10,000 monthly, hers $3200.00 monthly. Mortgage $325k at 5.76%. $2600 a month PITI, Henderson NV. $0.00 debt (besides mortgage). $100k invested in VOO (150 shares) and QQQ (50) shares. 3: HYSA account: with Synchrony $238k invested at 4%. $750 a month. Open Bank: $243k at 4.2% $750 a month in interest and Webster bank $178k at 3.8% $650 a month . In 7 yrs we will also collect SSI . Me ($798.00) and her ($1200). What am I missing? Right now, Were traveling the world and enjoying life. Been to : Cabo, Puerto Vallarta, Cancun, NY , MD, and Hawaii. 2026: Vietnam, Korea, Japan, and Spain. 🇪🇸. Carpe Diem.
Posted by wayno1806
12 Comments
You don’t tell us your expenses and why are you holding all that cash?
Personally, I’d use the cash to pay off the mortgage and invest about 2/3 of what remains.
How can you not be set? What a great situation
Why so much cash? I’d buy more stocks/ETFs.
With so much steady income thru pension, i would be much more aggressive with your remaining cash. Likely invested at least 90% in broad equities.
Does your pension income cover all your cash flow needs? $160k a year is incredible.
Not sure you understand what “end of my rope” means.
Curious about a career that gets you a $10k/month pension while only getting $800/ month SS. Is that from a career in public education?
This is what you are missing in your post – [wayno1806](https://www.reddit.com/user/wayno1806/)•[1h ago](https://www.reddit.com/r/DaveRamsey/comments/1mi5z5n/comment/n71kstp/)
Follow Dave Ramsey. I’m 55 retired and have a net worth of 5.5 million. Debt free.
Now congrats and GFY 🙂
This seems like a humble brag disguised as a request for help. Your post history claims to have a $5.5M NW. What advice are you even looking for?
What’s your question? Sounds like you’re retired and living it up.
So you are missing the most important part. What are your expenses?
So right now between pensions and interest you’re bringing in $15,350 a month, with $2,600 in mortgage costs.
You have $659k in cash. Why not pay off the mortgage (higher interest than your bank is returning), leaving you with $334k. Keep some cash on hand, invest the rest in equities to hedge against long term inflation since the pensions are acting as your safe money portion of your portfolio.
Expenses; $2600 mortgage. $1000 for all utilities and car insurance. $1500 for groceries. All others: $1000. Under $6k a month.