Advertisement
YOU ARE HERE: LAT HomeCollections

Retiree's financial summary

March 13, 2011

Subject: Patricia Ricci, 67

Assets: Home valued at $750,000; $80,000 in stocks and mutual funds

Liabilities: $124,000 mortgage; $6,000 credit card debt

Financial goals: Reallocate investments and prepare for long-term-care needs

Recommendations: Sell stock to pay off credit card debt. Reallocate existing investments into a more conservative mix of stocks and bonds, putting two-thirds into highly rated bonds and the remainder into an indexed mutual fund holding large-company stocks. Sell house to help prepare for long-term care as her multiple sclerosis progresses. Investigate whether she can get long-term-care insurance through the California State Teachers' Retirement System.

About the planner: Linda Barlow is a certified financial planner in Santa Ana.

Advertisement
Los Angeles Times Articles
|
|
|