Poll: Monthly income streams (please read before voting)

[Alan]

I am currently drawing 3 private pensions which is enough to cover our basic needs.

Next year I will begin drawing another private pension and the following year DW will begin drawing her SS. I also will have both UK and US SS to draw at some point over the next 9 years. The private pensions are all old style DB pensions and were not transferable between jobs. It has been a bit of a pain keeping in touch with these former employers going back to 1979 but it has lead to a diversity of 4 DB pension income streams (2 in the US and 2 in the UK) rather than one consolidated pension.

 

[I was misinformed]

My response to the poll reflects my current $600/month pension. At age 62 another pension ~$3500/month will be added. I hope to take SS at age 70 which will add another ~$3000/month.

 

[eta2020]

I am not retired yet but I voted with value of Dividend Yield generated by total portfolio.
It is rather high number though not compared to Senator....but I have no tenants to deal with. It is all work/worry free money.

 

[Senator]

Why are you still working?

Do you plan on handing the management/maintenance of your rentals over to someone else? We manage our one rental ourselves - but it's directly behind our house, newer construction, and we have great tenants... so the work is probably less than 10 hours per year - including cashing the checks and doing the little bit of extra tax entry.

Good question...

It's more of a mental thing now, I set a date before I really knew how much income I was generating. And I paid off a couple more mortgages since then, so the income really added up fast. It's 3-4x what I spend now. I manage and maintain the rentals, it takes 10-20 hours a month, max. Mostly less. But for the income I generate, it's worth it.

I do plan on selling at some point, or having them managed, but for the first few years I think I better do it. I am not going back to work. And if we have a flat stock market for 15 years, I will still be OK. I am going to try FIRE and see how much they interfere with my idea of retirement.

If I really wanted to live large, with a 2% withdrawal rate plus the rentals, I would probably have ~$200K. Of course, if things went bad with that spending rate, I would be screwed.

 

[jfn111]

I put myself in the $1001-$3000 range because that's where my net income from the pension is.
No SS yet and can't count the income from my Real Estate sales.

 

[wyecrabber1]

DW retired last July and receives $50K/per year between pension and SS. I will retire in 2-3 years with about the same income stream with SS and several pensions. I can take my healthcare with me when I finally say, I'm done -- I'm in an OMY mode. But I'd like to retire in a more positive market environment. Hard to pull the trigger right now. Investments are $700K which we do not plan to touch in the near term. So I think were okay. No debt, house paid for and plan to leave Maryland when I retire for a warmer and tax friendly state.

 

[Hermit]

Pension and SS on the late DW's account cover normal annual expenses. That is what I voted.

When I start SS on my account at 70 I will skip one of the poll brackets. I have no clue what I will do with that much money. (More toys??) Until the year I turn 70 I am pulling out the equivalent of the increase to my SS from 401k. I am currently using the extra cash to pay for DS's education and for possible overruns on house construction. DS will be on his own at the end of February and hopefully, the house overruns won't be too painful so that cash will just go into the bank.

 

[pb4uski]

Big fat zero income stream right now.

+1 not yet 62 so no SS. Have not yet started pension. Since withdrawals and dividends don't count then a big fat zero.

 

[Mulligan]

Almost $6800.... When your single and live in a low cost area, it is more than enough for my needs.

 

[Zathras]

Add me to the Nada gang...

 

[sanfanciscotreat]

I have not seen this mentioned
What bout RMDs from IRAs?

 

[rodi]

RMDs are part of your portfolio or nest egg.

This poll was created because of this post:
http://www.early-retirement.org/forums/f28/networth-article-says-946k-nw-at-90-percentile-80172-3.html#post1679076

I decided it was an interesting idea - income streams OUTSIDE the portfolio. RMDs move money from the pre-tax side of your portfolio to the after tax side (with an expense of taxes). They are likely part of your withdrawal (at least the tax payment) - but you don't have to spend your entire RMD... that's your choice and decision.

 

[BTravlin]

What about RMD's on an inherited Roth-IRA?

I've had this for 14 years now and it keep's appreciating, slowly, even with the RMD's paid out.

Also have:

- DW's small pension
- DW's small lifetime annuity
- royalty income from a quarry

Gives us a little over $3,000/mo.

No pension for me and no SS for at least 5 more years.

 

[ESRwannabe]

I'm not voting since I'm not retired but when I do retire at a minimum I'll have a pension and ss.

I have 15 years vested right now. If I never worked another day and then collected the pension at age 60 I'd be getting around $12k per year with a yearly 3% cola. My current w-2 income is $60k. My living expenses are around $28k.

 

[Greg V]

FERS and Military pensions. Entered a pretax number in the poll.

 

[NYEXPAT]

I put 3-5k as that is what I started collecting from SS last month. Wife will work for another 20-30 years so I did not include her salary. Wife has other substantial income streams that I also did not count as I am the only one retired.

 

[shortstop14]

Nothing at this point, three years into retirement. The only income on the horizon is Social Security (two years off at the earliest), and my wife's small pension three to five years off.

 

[aja8888]

SS for DW and I ($3001 - $5000 catagory):

Amounts to over 1/2 of our monthly spending needs (less if you add in DW's spending on the grandkids!)

Not included in the monthly spending is covered by RMD's and a bit of PT consulting I still do.

 

[NW-Bound]

What income stream?

I just recall a couple of years ago, Bestwiveever and I had an exchange here about collecting hickory nuts, cracking, and selling them to get an "income stream" going. Never implemented the idea, but darn, is my memory good or is it superior?

Searched for that conversation, and found it here, in a thread about the need to show an income stream to obtain a loan: http://www.early-retirement.org/for...ing-an-income-stream-64504-2.html#post1269224.

PS. I meant to find out what hickory nuts taste like, but have not done that either.

 

[Ed_The_Gypsy]

Quote:
Originally Posted by MichaelB View Post
Nada. Bupkis. Diddly-squat. Zilch.

+1. I did not realize there were so few of us in this situation.

Getting close. $440/mo pension + DW's SS for the next 2 years.

 

[skipro33]

$5500 pension w/COLA for now with $2500 in SS for DW and I (combined) in 2 more years. SS will replace draws on my personal investments that I draw on now. After SS, I don't have need for my personal investments, so I guess I'll just let them grow until 70.

 

[Amethyst]

Two pensions with inflation-pegged COLAs...none this year, since there purportedly wasn't any inflation. Pensions are treated as regular income for tax purposes.

No SS, as we don't qualify for it.

 

[sanfanciscotreat]

Don't have to spend all of the SS income.
Don't have to spend all of the annuity income.
Don't have to spend all of the dividend/interest income.
Don't have to spend all of the RMD's from IRA's.

It is all income to me, just as my salary when working. Not all subject to ordinary income tax. I can choose to spend or save. I sacrificed a defined benefit pension from a federal bureaucracy for a higher income and stock benefits from a publicly traded corporation. The result has been a better income in retirement, although not from a guaranteed income stream

 

[Willers]

A couple of hundred $ from a few leftover consulting gigs. Soon to be zilch.

 

[kcowan]

This poll is for retired persons - so salaries are not included.

After 13 years retired, got it up to $5k/mo just covering our LBYM lifestyle. Not that we want for anything but it eases the pressure on portfolio performance, especially these days! We need the portfolio for exceptional expense items.