I just turned 75, single, no kids. I've never had serious money. The one time I had a nice chunk of money was in 2006 when I sold my jointly owned house and netted about $80K which quickly evaporated in the 2008 market dive.
I live as an ex-pat in So. East Asia and my monthly expenses are ridiculously low: housing + utilities/TV/Internet under $450/mo. Add food, entertainment, travel and general living expenses and my combined SSI/VA pension of $1400.00/mo more than covers it, usually with a little left over.
I recently discovered that I was a 25% beneficiary of a family trust that was being dissolved and distributed. The trust was invested in mutual funds and some treasuries. I elected to take my share in assets rather than cash to avoid a substantial capital gain liability. These assets were transferred to my brokerage account yesterday: $250,000 in fund shares and $20,000 cash from non-transferable assets.
I have always lived a fairly moderate lifestyle and don't see that changing a lot: no new red sports cars, no lavish dinners, no holidays in Macao. I do hope to travel to a few bucket list places and maybe a cruise or two. My health is excellent. I am covered in the US by both VA and Medicare but no insurance where I live in Asia...impossible to get at age 75.
I do have a broker/financial adviser but fully realize that he is not impartial.
My investment goals are pretty simple: preservation of capital and take whatever income I can realize. I have no direct heirs so I don't mind spending the amount down a bit.
I can't say I'm seeking hard advice. I am trying to understand what my options are and what risk/reward the various options carry.
I would very much appreciate any thoughts, suggestions and observations readers on this sub. wish to contribute.
Submitted July 07, 2018 at 10:41AM by bkk-bos https://ift.tt/2tZ8LjU
