Cheesehead
Recycles dryer sheets
Hello,
I am 63, my wife is 59, and between her pension and my social security, we need our nest egg to throw off 3% to meet our needs. I'd like a more managed approach than me doing index funds in a couch potato manner, and we don't want a lot of risk. I am now retiring and would like to collect our 11 various accounts under the Fidelity and Vanguard umbrellas and invest 80% of them in one or two funds which will automatically withdraw monthly a 3% WR to our bank account. As for managed, I am thinking of Wellesely, perhaps Vanguard Target Retirement 2020, perhaps the Vanguard Lifestrategy Conservative Growth, or a combination of the three. We will also have CD ladders.
I am worried about Wellesley because their average bond duration is 6.5 years, and we are now looking at increasing interest rates, so that can't be good, right?
Our Fidelity advisor is suggesting their Blackrock Diversified Income Portfolio which is a part of their strategic services and costs 1.1%. I can't find any reviews on it besides press releases, it seems only two years old, doesn't even seem to be listed with Morningstar or have a ticker symbol, so I turned that down. Unlike most of the regulars on this forum, I am not adept at math and I do not find money management enjoyable, yet I know how important it is. So I am looking for a reliable, low cost fund such as Wellesley and/or Wellington and would like to know what others have used for auto pilot. The Vanguard Managed Payout Fund has not gotten good reviews.
Thank you for your advice.
P.S. Where can I find the FIRE calculator people refer to?
I am 63, my wife is 59, and between her pension and my social security, we need our nest egg to throw off 3% to meet our needs. I'd like a more managed approach than me doing index funds in a couch potato manner, and we don't want a lot of risk. I am now retiring and would like to collect our 11 various accounts under the Fidelity and Vanguard umbrellas and invest 80% of them in one or two funds which will automatically withdraw monthly a 3% WR to our bank account. As for managed, I am thinking of Wellesely, perhaps Vanguard Target Retirement 2020, perhaps the Vanguard Lifestrategy Conservative Growth, or a combination of the three. We will also have CD ladders.
I am worried about Wellesley because their average bond duration is 6.5 years, and we are now looking at increasing interest rates, so that can't be good, right?
Our Fidelity advisor is suggesting their Blackrock Diversified Income Portfolio which is a part of their strategic services and costs 1.1%. I can't find any reviews on it besides press releases, it seems only two years old, doesn't even seem to be listed with Morningstar or have a ticker symbol, so I turned that down. Unlike most of the regulars on this forum, I am not adept at math and I do not find money management enjoyable, yet I know how important it is. So I am looking for a reliable, low cost fund such as Wellesley and/or Wellington and would like to know what others have used for auto pilot. The Vanguard Managed Payout Fund has not gotten good reviews.
Thank you for your advice.
P.S. Where can I find the FIRE calculator people refer to?
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