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Well Into Retirement and Caught Short On Income

Washington Post

Elizabeth Small was lucky enough to enter retirement in her early 50’s after she inherited some money.

With her inheritance tucked away in a number of stocks and mutual funds, the former secretary settled into what she thought would be a comfortable life in Charlottesville.

But life is no longer comfortable. Since April, the global financial crisis has chipped away at $200,000 worth of her investments. Her small Social Security check — about $400 a month — is not enough to cover her mortgage and living expenses. “I’m totally dependent on my investments for my income,” she said.

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