jIMOh
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If I read this right and you need ONLY 20k from the assets, the solution is simple:
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Sorry, I should have been more clear, we need about 20k to 25k from our IRA's each year and the balance from our taxable account.
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1) invest 600k in ONLY dividend paying stocks (buy/sell as needed). The dividend stream should be constant. 3% yield on 600k is 18k.
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Right now we have only 185k in stocks(ALD,GE,JNJ,KMP,KMR,MRKand PG). The yield is around 4% now. I expect about 200k within 60 days and another 200k when we sell a piece of property. I am considering keeping mainly dividend paying stocks in this account. I know that we should have a better return using a 40/40/20 portfolio, but living off of dividends would make it easier to sleep at night.
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2) send one IRA to an account where you can 72t the balance to 2k-5k per year.
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Maybe we should rollover the 401k which would provide about 25k/year according to an online 72t calculator. If I am understanding the withdrawal information for the "fixed amortization" method of withdrawal, it seems that the amount stays the same every year. So there is no cost of living increases? Anyway, if we do that, we will have about 500k left in the other IRA's-none of our IRA's are Roths. At some point I will try to figure out if it's worth it to switch some of them to Roths.
I appreciate your response, we are a few weeks away from ER and are trying to make sure we have all of our bases covered. Once we quit working, I'll have more time to think things out. It's kind of an exiting and scary period for us.
I appreciate your responses.
ronc
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