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I'm jumping in to add my two cents worth. In my 28th year of retirement and will turn 80 in September. I have a non-COLA'd pension plus social security that has covered my monthly expenses since I retired in 1988. Company also paid monthly equivalent of SS until I reached 62 and then reduced pension by that amount. Fidelity managed everything for my company until I left them in 2014 and moved all investments to Vanguard. I'm in Vanguard Wellesley (VWIAX and VWINX). Target allocation is 30/65/5 and actually is 35/65 as we speak. We just received the quarterly dividend which gives us a 2.95% return based only on the dividend. I did a calculation some time back and I figure Wellesley has returned about 7.5% overall since I joined the fund. I was in a lot of CD's until the bottom fell out, got sick of that and moved everything into Wellesley. I'm happy.
Retired at age 46 two years ago and LBYM in a low COL area. Only pension will be SS.
25% Equities - Qualified dividends cover routine and amortized expenses and div growth is exceeding inflation.
75% Fixed Income - mostly 401k Stable Value Fund plus some individual 'AA' rated corporate bonds and a 5yr 3.5% MYGA.
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