VG Options

[kenepp1]

I finally retire at age 63 on Dec 31.* *
This is scary stuff. I have recently moved my accounts from Fidelity to UBS (my regrets). I am now looking at VG.* I am thinking about having them do an analysis/recomendation for me vs. just WWELX or VWINX, plus some other funds.

1. Do any of you already retired folks use their recommended asset allocations?*
2. Do you have them send a monthly check or do you perodically sell some for cash each quarter, year or so (ladder CDs etc.)?* *I don't see enough dividends to cover all my monthly needs.

[justin]

Originally Posted by kenepp1

2. Do you have them send a monthly check or do you perodically sell some for cash each quarter, year or so (ladder CDs etc.)? I don't see enough dividends to cover all my monthly needs.

Not retired, but I get an electronic transfer twice a month from Vanguard to supplement my income. Really easy to set up, and easy to cancel for one or more payments if you don't need the money temporarily.

[moghopper]

Originally Posted by justin

Not retired, but I get an electronic transfer twice a month from Vanguard to supplement my income.

Trust fund??

[justin]

Originally Posted by moghopper

Trust fund??

Ha ha!!! I wish... I'm supplementing my paycheck with my savings because my paycheck is tiny.

Why is it tiny? I made it tiny on purpose. I have a lot of things withheld from it, including a 52% 401k contribution. I'm "laundering" my after tax savings into my 401k. The amount I get from Vanguard plus what I get from my paycheck right now is equal to what I used to get from my paycheck before my laundering began. I probably won't pay any fed. tax this year again due to my laundering activity. It all legal though. I think

[Michael]

Do you have them send a monthly check...

You can arrange to have dividends direct deposited to your local bank for spending. Much easier than standing in line to cash a check.

[WilliamG]

VG is extremely easy to deal with on automatic withdrawals (to your local bank) or transfers (eg. to your taxable VG money market). Can all be handled online if you are comfortable with that. On IRAs can withhold both Fed and State taxes. Withdrawal/transfer schedules are very flexible and you can automatically skip periods very easily.

On how to implement mechanics of tapping your portfolio, sounds like you would have a lot of studying up to do yourself. Vanguard can help here with one of their planning services which should include a recommended asset allocation and withdrawal/rebalancing strategy. May not be a charge if you are transferring sizeable $ to Vanguard.... bill

[kenepp1]

Thanks for the input. I guess no one has any experience with their recommended plans. They charge $1500 if I don't decide to use them.