Welcome to the forum.Hello, everyone
I really need some advice for my situation, I think I’m okay but unsure
I am 57 and single
I have a paid off house in Vegas, worth $725k and currently being rented for $2600 a month, currently living in Pennsylvania at my son’s second house with no rent but paying everything else
I’m currently spending around $2000 a month, car paid for and no debt
I have 401k , right now it’s worth $1.090000 million and a personal Roth $190k , plus a brokerage account about $57k
But only have $5000 in cash for spending but I can sell in brokerage accounts for spending money, I know that’s not a smart move
Please let me know what you guys think, thanks
I'm a little curious about the Las Vegas house...
You say it's paid off, so what are the carrying costs like property taxes, homeowner's insurance, etc.?
Presumably you're getting some portion of the $2,600 as a monthly cash flow. How much exactly - after paying the carrying costs?
Between the rental income and the $57k in the brokerage account, you might be able to last until you hit 59.5 years old and have easy access to your 401k account with no penalty.
Regards,
Statistics: Posted by retired@50 — Thu Sep 05, 2024 9:16 am