Can a couple in their mid-60s fully retire on social security income, pension money, and rental income? I would hope so! But this is the question that’s being asked in this week’s Money Makeover column in the L.A. Times.
I usually enjoy reading the money makeover column in the Los Angeles Times, which runs every two months or so (and, coincidentally, was once written by Helaine Olen in the ’90s). The latest installment focuses on Ross and Michelle Meador, a couple who lives in Fullertorn with their three children and have $1.4 million in assets including a house in Berkeley that they rent out, but a million dollars in debt, including student loans, a mortgage, a HELOC (home equity line of credit—basically borrowing against your house), and mortgage debt.
From the L.A. Times, what do you do when you lose your job and the next one you get pays less than you were earning before?