My porfolio currently looks like this:
IRA Portfolio:
210K in Diversified Stock Funds
280K in Diversified Bond Funds
20K in Blanced Stock Fund
= 510K
Taxable Porfolio:
140K in Total Stock Index Fund
140K in Money market Fund (parking place until I figure where to put it)
= 280K
Wife has already retired on COLA'd pension of 38K/year
I plan to ER in 2 - 3 years. I am 57. I figure if I wait until 66 to take SS I will receive approx 2K/month = 24K per year.
With wife's penion and my SS we will have COLA'd income of 62K/year. I believe this will be enoguh income for us to live on and we can use the IRA and savings to take care of unexpected expenses.
First, do you think I can ER at 59-60?
Second, if I retire at 59/60 I will need 24K per year from savings to "bridge" the gap until SS kicks in at 66. I hesitate to risk the cash in the MM since this can already provide the cushion I believe I need to bridge the gap. What do you folks think of this strategy and where do you think I should put the 140K currently in the MM account? Should I be more aggressive or should I bow to my conservative nature?
Thanks for the help.
IRA Portfolio:
210K in Diversified Stock Funds
280K in Diversified Bond Funds
20K in Blanced Stock Fund
= 510K
Taxable Porfolio:
140K in Total Stock Index Fund
140K in Money market Fund (parking place until I figure where to put it)
= 280K
Wife has already retired on COLA'd pension of 38K/year
I plan to ER in 2 - 3 years. I am 57. I figure if I wait until 66 to take SS I will receive approx 2K/month = 24K per year.
With wife's penion and my SS we will have COLA'd income of 62K/year. I believe this will be enoguh income for us to live on and we can use the IRA and savings to take care of unexpected expenses.
First, do you think I can ER at 59-60?
Second, if I retire at 59/60 I will need 24K per year from savings to "bridge" the gap until SS kicks in at 66. I hesitate to risk the cash in the MM since this can already provide the cushion I believe I need to bridge the gap. What do you folks think of this strategy and where do you think I should put the 140K currently in the MM account? Should I be more aggressive or should I bow to my conservative nature?
Thanks for the help.
Last edited: