Advanced ➔ Results The MoneyistMy wife and I have $7,000 a month in pensions and Social Security, plus $140,000 cash. Can we afford to retire.
‘My wife of 20 years is a Japanese national and s in the U. As a permanent resident’Last d: July 5, 2025 at 1:00 p. ETFirst Published: June 27, 2025 at 5:30 a.
ETResizeListen(11 min)“Due to military service, we have Tricare to cover costs above Medicare. We are both currently reasonably healthy. ” (Photo subject is a model.
) Photo: Getty Images/iStockphotoDear Quentin,I am contemplating retiring at the end of the year.
I’m married and will receive two monthly pension payments; $3,600 from military service and $1,500 from civil service.
Our total jected monthly cost of living will be covered by these, making our $3,500 in joint Social Security income completely disposable for savings, travel, etc.
I don’t have much savings, only $140,000 between cash savings and a Thrift Savings Plan.
Our take- total each month will be just over $7,000 and, after taxes, medical, dental, vision expenses, and life insurance, our total cost of living will be around $4,000.
My wife will be 65 in January, and I’ll hit that age 13 months later. The Author Quentin FottrellQuentin Fottrell is MarketWatch's Managing Editor-Advice and The Moneyist columnist.
You can him on Twitter @quantanamo. Show Conversation (0)Back To TopCopyright © 2025 MarketWatch, Inc. All rights reserved.
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