Question: We lived below our means our entire careers. We're now 67 with $5.8 million and about to take Social Security, which will provide $5,000 a month. I want to spend $300k on home renovations for our cramped and outdated house. I also want a new car. My wife is too nervous to spend so much. How do I get her to loosen up?
Answer: Many people who retire with large sums of money get there via hard work, frugal living, and diligent saving. If you've reached the age of 67 with $5.8 million saved, you're most likely looking at a comfortable retirement, especially if you're used to living modestly.
