Q: My husband and I want to build our dream house but not sure if we can afford it being so close to retirement age.  I’m 61 and he’s 58. –  J.T., Orlando

A: First establish a target retirement date. Then estimate retirement spending, including the new home.  Finally, tabulate your retirement resources (401(k), Social Security, etc.)  Subtract upfront costs for new home from retirement resources.  From there, you will be able to determine if your resources will be enough to last through life expectancy. –  John Pinkley

Q: My wife and I have been married for over 30 years and have one daughter. We want to ensure that our assets are distributed in a specific way to family and charities when we die. How do we do that? – B.W., Windemere

A: Find an estate planning attorney to walk you through getting a Revocable Living Trust to ensure your assets are distributed the way that you want. Doing so ensures that the assets avoid probate and are protected from creditors if your beneficiaries are sued.  –  John West, III

Have a question? E-mail askanexpert@fpafla.com. Include your name (only your initials will be printed), hometown and phone. Questions are answered by Certified Financial Planners from the Financial Planning Association of Central Florida. Answers are for educational purposes only; you should also consult a financial professional. Questions and answers may be edited for space considerations.