From today’s Washington Post chat, a great reminder that these issues are not just something for those who are 50 and over to be concerned about… everyone can only hope they’re lucky enough to worry about enjoying the second half of your life.
Washington, D.C.: First all, thank you for taking the time to respond to my inquiry. I am concerned about the financial affairs of my parents whom are both in their early 50s but as of now do not have a dime saved for retirement. They still have about 120K left on their mortgage. Because they do not have any savings after my dad lost his job and putting four kids through school they have discussed worst case scenario would be to sell the house and downgrade in 10 years if necessary. They now both work descent jobs making about 45K each. What would you recommend they do now to start preparing to retire comfortably. Thank you.
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