How to use inheritance and retirement income. Where to go, what to do?
I am not young, 60, although I do have a younger wife and a young son.
I am not used to having money and unsure how to use what I now have to enjoy the time I have left.
I live in Southern California where a home is VERY expensive but there is no humidity, snow or bugs here and I enjoy wearing shorts all year long. My current home is small, NOT at all fancy and not all paid for but I would make about $100,000 if I sold it.
I have never lived in snow, and I don't know that I will be able to learn how to or will be able to deal with it as I get older.
Anyway, I would like some educated suggestions on how I could/should deal with this. Should I stay where I am? If I do, advice about how to enjoy my situation? OR, would you recommend another place in the USA where money would go farther and what I have could seem like more?
I do want to stay in the USA and I have a heart issue that will require the availability of good health care facilities within a fairly decent range sometime down the road.
I love the mountains or ocean views, lakes, trees, open space (my small backyard right now is my to go place) but I am open to suggestions.
I am not really looking for investment advice here as much as WHERE and HOW to "spend" some of that money on my/our life.
Son is 9, Autistic, probably no university. :o(
Is the $55K per year a secure pension,
Pension is guaranteed for my life and I can sign away percentages, example 50% so wife would keep getting same amount for her lifetime. No SS but will get Medicaid.
About $100,000 savings
Including everything, mortgage, etc. we spend about all we make, $150,000