Q: I am 68 and ready to retire. I am an educator who has taught for 37 years, so I will have a pension. I began drawing Social Security at age 66. I have saved all my life and approximately $900,000 invested with Vanguard. I hope to have that up to $1,000,000 soon. My question is: Do you think I am in fairly good shape financially? And, can you suggest anything I can do differently to increase my portfolio? Thank you so much for your time and suggestions.
A: Congratulations on a great job! My wife is a teacher and both my mom and mother in law are retired educators. I know how proud you must be of a job well done. I imagine the pension and social security take care of most of your monthly income needs so really your allocation for the portfolio will be determined by risk tolerance. We offer a free one hour consultation. Just let us know if you would like to set up a time to discuss your situation in further detail and have myself or one of our other advisors look over your portfolio allocation.