Chattguy
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 29 Jan 2017
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| 5 years from Retirement |
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67 year old male- married-spouse 67- both in good health
We both plan to retire at 70.
Present family total income is about
60 K -total salaries
10K from house rental after expenses.
10K from SS File and suspend.
Expenses 120K mortgage on primary house.
15k on rental house.
In retirement
Income:
1.Expect about 30k each from SS.= 60k total
2. I will get pension of approx 20k
3. Rental house 10k
Total retirement income expected is 90k from 1-3 above
Expenses at 70.
100K house (paid off when we are 73) then add 14,000 to income above.
401k total - 700k
I recently transferred this 700k from my TIAA CREF account to Vanguard.
It is parked in a money market account. How should I invest?
Goals
1.- Use it as a vacation/emergency fund after 70. Max- Pull 10,000/year.
2. I would like to eventually pass it on to my 2 grown girls and 3 grandkids (1,5,6yrs)
Would Roth conversions make sense now? I can maybe do 70k a year before I reach 701/2.
Should I invest like a young investor for my kids ie. All in Index funds and no bond funds.
or should I invest a 60/40 or 70/30 mix of equities/bonds that planners say I should do at my age.
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Sun Jan 29, 2017 10:03 pm |
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oldguy
Senior Member
Cash: $ 751.85
Posts: 3656
Joined: 21 May 2006
Location: arizona
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quote:
or should I invest a 60/40 or 70/30 mix of equities/bonds
That's what we do (60/40). I've been retired for 19 yrs, a little older than you.
quote:
Should I invest like a young investor for my kids ie. All in Index funds and no bond funds.
Again - that's what we do. We have money that we'll never use in our lifetimes - we invest that mostly in the SP500 Index. for kids, g-kids.
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Mon Jan 30, 2017 12:47 am |
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CredoWealthManagement
Member
Cash: $ 3.40
Posts: 16
Joined: 20 Mar 2017
Location: Denver, Colorado
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Great job. You are an example to all of us.
You could also consider a trust fund or low-cost, managed Individual accout in addition to a Roth IRA for the kids once you hit their contribution limit of $5,500/yr.
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Mon Mar 20, 2017 10:42 pm |
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samuel786dean
First Time Poster
Cash: $ 0.20
Posts: 1
Joined: 06 Apr 2017
Location: USA
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| Pension |
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Is it a defined contribution pension (where you pay money in and accumulate a pot) or a defined benefit where you earn a bit of future pension for every year of work? 
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Thu Apr 06, 2017 5:32 am |
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