I am taking a WR of about 3.4% from my entire portfolio so I feel that is OK (I'm 63). But almost all of it is from my 401k's which means I'm taking a WR of about 8% from them (I'm not touching our ROTH money or non-401K investments). My reasoning is that for the next 5 years I have a mortgage and kid's college that I can use for deductions against this "ordinary income" stream.
Also, why not wait until 70 to get an income stream that is not dependent on the market and is COLA'd. And in addition my wife can take if necessary. My other thought is that once I have to take my RMD's, might as well reduce the amount.
Any thoughts on this strategy?
Also, why not wait until 70 to get an income stream that is not dependent on the market and is COLA'd. And in addition my wife can take if necessary. My other thought is that once I have to take my RMD's, might as well reduce the amount.
Any thoughts on this strategy?