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Old 07-23-2015, 08:26 AM   #21
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OP - I'm in a similar boat as you. Thinking about retiring next year at 50, no pensions. So, will be living off taxable accounts for 10+ years.

Was your Fido rep trying to make a sale? Probably. But, that doesn't mean he was necessarily wrong. Proponents of liability matching portfolios would want you to have a known, dependable source of income to cover basic expenses during phase 1 of your retirement.

Jim Otar (Unveiling the Retirement Myth) suggests annuities for folks in the Grey Zone. Not saying he's correct, but reading his material has caused me to pause when my initial reaction to annuities is "are you crazy?".

For some people, SPIAs may serve a purpose. Some links you may find interesting:
What Color Is Your Retirement Zone?

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Old 07-23-2015, 09:38 AM   #22
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Great links. Lots to learn about and lots to think about. The annuity laddering is something I hadn't really considered.

My mom lives on $1200 / month. Granted she doesn't spend anything on entertainment or travel, but I wouldn't say her life is "miserable" either. My theory is that ultimately if I needed to live on the $2k / month that I should get from SSI starting at age 70 that I'll be "ok". I won't be traveling the world (I don't even do that now!) and there is a risk I'd end up on Medicaid, but ultimately that risk is relative low.

Since my j*b is "personal investment manager" (of my own portfolio and no one elses) I'll have lots of time to read up and learn more. I'm still not overly impressed with my FIDO guy but he provided a starting point to help me figure out "what's next on the todo list".

"For the time being no discipline brings joy, but seems grievous and painful; but afterwards it yields a peaceable fruit of righteousness to those who have been trained by it." ~
Hebrews 12:11

ER'd in June 2015 at age 52. Initial WR 3%. 50/40/10 (Equity/Bond/Short Term) AA.
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