Danmar
Thinks s/he gets paid by the post
Hello- I have posted a few times in last week after running across this site so I thought I should introduce myself. I am 59 years old and retired about 3 years ago after a career as an exec at one of Canada's large Banks. Work was getting to be a chore so decided I had enough (both financially and work wise). My wife, also retired, is a very young 52. Portfolio runs around $12million including significant uncashed options in the stock of my employer. I am hoping it will eventually be about $15million once all cashed out in 2 years. I will start my pension in about 2 years and it will be $550,000/year (partial COLA). We have no debt, own 3 properties, and travel extensively. Significant alimony payments to first wife. Only daughter is pretty much on her own.
I self manage our portfolios and feel I am qualified to do this (MBA, CA, CFA). Current portfolios mostly dividend paying equities (banks, insurance, telecom) currently generating about $375,000 per year in dividends. Yearly spend is $700,000 including alimony. We have cash on hand for 2 years spending. Don't plan to withdraw principal for a while as dividends and pension will cover current spending requirements. We feel very lucky to be in our current position and are very aware this is not the average for most people.
I am struggling with asset allocation and diversification issues. I view my pension as a fixed income stream so don't feel we need any fixed income securities in the portfolio. This might be a little controversial I know. Also only Canadian equities to get the very beneficial tax treatment of dividends. Over last decade have averaged 7% growth plus about 3% dividends.
The last 3 years have been fantastic. We love retirement although I still dream about work. It was extremely stressful and I guess I am not over it yet. I used to be a "big shot" but don't miss that part too much. OK maybe a little. Major activities include fitness, skiing, mountain biking, and travel. 3 out of 4 parents are alive and require a fair bit of help.
This forum seems really useful. I have read many intelligent comments so far. I can only hope I can add something.
I self manage our portfolios and feel I am qualified to do this (MBA, CA, CFA). Current portfolios mostly dividend paying equities (banks, insurance, telecom) currently generating about $375,000 per year in dividends. Yearly spend is $700,000 including alimony. We have cash on hand for 2 years spending. Don't plan to withdraw principal for a while as dividends and pension will cover current spending requirements. We feel very lucky to be in our current position and are very aware this is not the average for most people.
I am struggling with asset allocation and diversification issues. I view my pension as a fixed income stream so don't feel we need any fixed income securities in the portfolio. This might be a little controversial I know. Also only Canadian equities to get the very beneficial tax treatment of dividends. Over last decade have averaged 7% growth plus about 3% dividends.
The last 3 years have been fantastic. We love retirement although I still dream about work. It was extremely stressful and I guess I am not over it yet. I used to be a "big shot" but don't miss that part too much. OK maybe a little. Major activities include fitness, skiing, mountain biking, and travel. 3 out of 4 parents are alive and require a fair bit of help.
This forum seems really useful. I have read many intelligent comments so far. I can only hope I can add something.