Q: We have recently retired and are both 71. We sold a property and I wish to use that money to live on. It will be approximately $35,000 a year and will take us to our late 70s.

We do have one more property that when sold will take us through another 10 years. Also, we live in a $1.4 million mortgage-free house.

But because we had always struggled and been very careful with money (due to low-paying employment — best thing we ever did was get into property) my wife is scared to spend anything. I am ready to spend — travel, motorhome!

The proceeds of our house sale are in KiwiSaver and managed funds. We have no other debt. Can you please explain that we will not get into trouble if we place $35,000 into our bank account (in two lots of $17,500 every six months).

I realise you are very busy but would ask you to answer our question as soon as possible, as my wife goes into overdraft each fortnight waiting on our pension money, rather than transferring our funds into our bank account.

A: Your last sentence worked! I hate to see someone going into overdraft — and paying interest on it — when they've got plenty of savings. Sorry to your wife, but that makes no


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