Hi again, Ima,
That $1000 is the BARE MINIMUM that I'd be able to live on. It doesn't include health, dental, or long term care insurance, sorry to say.
I've always been single, so it's only my income that I have to work with when it comes to retirement savings.
Luckily, my house is paid off, so I only have to worry about the monthly bills and taxes on it. My car's paid off too. Might need a newER one in a few years. Mine's a '95 Mitsubishi Expo with about 100,000 miles on it. Been acting a bit strange lately, so we'll have to see what needs to be fixed.
As far as the IRA goes, I wonder if I can combine it with another $2,000 that I have in a small retirement account I had when I wasn't working as a teacher. It's been sold off a number of times as well. Anyone know how that works? If you can combine a employee retirement account that's not active with an IRA?
Thanks,
CJ
