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Originally posted by bigdohbeatdown
reply to post by lnfideI
Hey I not too sure exactly how much extra she would get waiting for full pension??
she could retire, I probably could, however if so I would recommend retiring in a developing country.. Thailand, Cambodia, Ecuador.. somewhere where the money will go further... because I don't think 400 000 will last long.. Sure she will get interest.. however I think she would spend more than the interest gives her, thus slowly chipping away at the pile.
Also she should be careful where she puts it, share probably not a good option.. maybe 25% of it in shares, diversified between asian, euro and american shares, in different sectors. It sounds like you are in Canada? I don't know much about your economy, but I believe the Aussie dollar is currently over valued. If similar there, it might be an idea to buy some gold derivatives. Term deposits are also good (like the ING one you say) and safe, however you're not protected from high inflation or the currency loosing value.If she does choose to retire... make sure her savings are diversified... and like I said, I doubt she could live well on the figures you suggest if she is in Canada or US.. but if in a cheaper country, I'm sure she could live like royalty and still beat inflation.
Also does she have childeren / dependents?
Originally posted by bigdohbeatdown
Sorry I didn't read very closely. I see she is planning to get out the country.
Non the less, she should maek sure she has enough for her truly old age for if she becomes infirm.. she wouldn't want to end up in a state provided nursing home (if they're anything like australian ones). I hate debt and money. But yeah, I think she should retire and do what she wants before she is too old to do it, just make sure she is prudent with money, perhaps tell he to see a tax lawyer.. with these sums of money is worth seeking advice to minimize the her tax liabilities.
Sorry to be pessimist, but I would just hate her to retire early, then run out of money after 5 yaers, be unable to get her old job back, then have to live in a #ty apartment barely surviving on a pension for the rest of her years.
Originally posted by bigdohbeatdown
Also ge her to check her mortgage contract make sure there is no early discharge fee or anything.
Originally posted by fatpastyhead
sounds like she has spent most of her life doing the "right thing". surely its time to kick back and enjoy life. motorbikes are my thing. if I could tour the world on my bike I would go now and I would spend years soon it.
whatever happens though, hope it all works out.
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