Hi,
I've got about 900K total split between 350K in an IIRA, 150K in a Roth,
and the remainder in an individual account. I have about 180K in a 401K
[FOSFX] but I'm not going to even consider touching that. Hitting about 57 soon had an injury so I'm off full time work for a few years. No short term disability or workman's comp. Own house. Thinking about pulling
out of all stocks and sticking everything into a split between RPSIX and PONDX to see if I can get decent 3% income, live frugally [very] and not deplete much principal. Then go back to work and fix everything. Does this seem plausible? A terrible move?
I've read that if you make less than 37K a year, you don't have to pay
taxes on capital gains, so that would be good on taking money out of the
IIRA.
Thanks,
Mike
I've got about 900K total split between 350K in an IIRA, 150K in a Roth,
and the remainder in an individual account. I have about 180K in a 401K
[FOSFX] but I'm not going to even consider touching that. Hitting about 57 soon had an injury so I'm off full time work for a few years. No short term disability or workman's comp. Own house. Thinking about pulling
out of all stocks and sticking everything into a split between RPSIX and PONDX to see if I can get decent 3% income, live frugally [very] and not deplete much principal. Then go back to work and fix everything. Does this seem plausible? A terrible move?
I've read that if you make less than 37K a year, you don't have to pay
taxes on capital gains, so that would be good on taking money out of the
IIRA.
Thanks,
Mike