Must read - I’m 59, and my husband and I earn $500,000 a year — but have credit card debt and nothing saved for retirement. What should we do?

[RickTheToad]

https://www.marketwatch.com/story/im-59-and-my-husband-and-i-earn-500000-a-year-but-have-creit-card-debt-and-nothing-saved-for-retirement-what-should-we-do-2020-02-25?siteid=yhoof2&yptr=yahoo

On one hand, it is very sad they lost their son. On the other hand, why the f uck isn't she working? The children are adults and the hubby is stuck working.. Good news though, as the wifey says "The pluses are that my husband is healthy, fit, and energetic and has an excellent law practice. Assuming he remains in good health, he can work for many more years and plans to do just that. We own a home that will be paid for in 7 years, and at this time is worth around $1.4 million. If we sold it tomorrow, we could net a million dollars in equity. Our city is rapidly growing and homes prices have become very high, so it would be difficult to find a home for less than $750,000 (if we were lucky)."

 

[RickTheToad]

New link - https://www.marketwatch.com/story/i...d-for-retirement-what-should-we-do-2020-02-25

 

[Ohso-Phresh]

Cut-up the cc’s but keep the accounts open. Request credit line increase.

Heloc to extract capital for down payment for income producing properties. SFR’s are the quickest to appreciate, commercial storage is the easiest to get financing on.

Probably an easier way fir her is get greater coverage life insurance on the hubby and go for high adventure vacations for daredevil selfies.