ront2 <ront2[at]socal.rr.com> wrote:
- quote -

Don't retire yet. Social Security has substantial penalties for working
under age 65, and you need more savings and fewer debts.

You might look for a job in the Las Vegas area to finance your house
purchase. LA is probably too expensive for you to buy a house.

--
Ron

ront2[at]socal.rr.com (ront2) writes:

- quote -

My $.02 worth is that if you have a car loan, $3000 in credit card
debt, and no savings, you should not be putting yourself further into
debt by buying a home. See if you can pay off your other debts and
save up a down payment first.

-Sandra the cynic

Married couple to retire in Mar. 2005. Would like to know if we
should consider buying our first home, or rent like we've been doing.
Our retirement income will consist of wife's Social Security, wife's
pension, husband's pension, and husband's distribution of tax shelter
(age 59 ½ on Mar. 25,2005). Husband's Social Security at age 62 will
be $1,100 monthly. Amount of his distribution of tax shelter will be
$1,100 monthly until Social Security kicks in. This total (husbands
and wifes) will be very close to a monthly income of $4,800. Auto
loan is $219 monthly, long term care insurance is $125 monthly, and
total for (2) credit cards $3000 balance (as of Mar. 25, 2005). Our
FICO score is 770.
Husband is Veteran (Vietnam) who has not used the GI Loan. Seems
like we should be able to purchase something. We want to relocate in
Las Vegas area from the Los Angeles area. We do not have anything for
a down payment. Husbands' tax shelters (403b, 401, IRA) will total
around $60,000 in Mar. 2005.
We would like and appreciate any advice.

Sincerely,

Ron (ront2[at]socal.rr.com)