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FYI: My husband and I are retired and in our seventies. We live on about $8,000 a month from a combination of Social Security, an inherited annuity, my pension, and required minimum distributions from our IRAs. I also take $700 a month from a brokerage account to pay on a home equity loan. Regards, Ted https://assetbuilder.com/knowledge-center/articles/invest-or-pay-off-debt