Originally Posted by Marmot
Best of luck. You will have to provide a lot more information such as what is your budget, what do you need in a year in the way of income, etc.
I would consider looking at the situation from a different perspective, what income do you need and what risk would you need to take to achieve that income. This is a big change in how to look at the problem, all my life my investment thesis has been how can I get more $$ for the old pile. Now the problem is how can I turn that pile into an income stream with least risk.
Investments are all about a ballance of risk and return. Safest is under the mattress with a good security system, but no return there. Unless your kinda kinky and like woopie with the $$
On the other end is lots of risk but no safety. Put it all on the tables in Vegas kinda thing.
So the question I face is where do I want or need to be on the line between the safe and the gambling. On a scale of 1-10, if a 4 would meet my income needs, perhaps I can stretch to a 5 or 6. If I have a backup method of paying for essentials, (Pension, annuity) then I can move up the risk curve and perhaps have more wants. But I always have to remember there are no do-overs at 75 if my investments go bad. So I need some safe and some less safe.
The buckets that PaddyMac mentions is one way to look at the problem. Put some safe investments for the next few years, and some in riskier but higher return investments. Then each year or so, move some of the risky to fill up needs buckets that were emptied by spending this year.
Just my thoughts...I'm a long way from figuring this out, like I said for me it is a whole new way to look at my investments. Takes a while for me to get stuff like this into my head and merge it with other plans, ideas, goals.