The existing service is circa 1953 and has a Federal breaker box (fire hazard).

It looks like they've transferred a huge number of derivatives into an FDIC insured subsidiary, with the government's permission:http://www.bloomberg.com/news/2011-10-18/bofa-said-to-split-regulators-over-moving-merrill-derivatives-to-bank-unit.html

It's simply not worth it.Sorry, this needs to be re-highlighted as maybe the most important advice ever to be passed on BP.Beyond that... working with banks is like working with the Government, do not expect it to be a logical process.

Or what can I do to be protected from the government screwing up my retirement?

They love to get good press by helping out with these things.I would look into those avenues along with charities,churches,and government programs.

But I am betting on Raleigh for these reasons: a)3 top 50 colleges in area (Duke, UNC, NC State) b)State capital (stable jobs from government positions) c)RTP (home to companies like IBM, CSCO, Biogen adds around 40,000 solid jobs to the area) d)Growing population.

This way instead of giving tax money to government programs you have no control over and a government that can't balance the budget you give to charities where you influence how much of every dollar goes to the cause.Not to mention the good will that it brings and felling good about making a difference.I have a feeling people do not get that same feeling paying taxes to an out of control government.Is there limits with a corp on how much you can give to charities within a year??

If it was a small fire, then yes, simply remodeling the kitchen could possibly fix the problem, and could possibly be cheaper than you think, especially if you go with all new energy efficient appliances (you can qualify for government tax incentives and breaks).

Knowing the government can take away the retired pay at any time, I decided to make sure we had some investments to cover up any loss of income.

Yeah it's more government streamlining red tape BS.If they would just get out of the way the market would work itself out faster.