FrugalMcDougall's Intro Thread

[FrugalMcDougall]

Perhaps I placed my OP on the wrong board. Interested in robust discussions about investing with others in similar situation.

In broadbrush strokes, my situation as follows:

- Married (bride and I both 52)
- 2 children, both currently in college. Tuition mostly covered.
- Retired early due to medical issues. Former electrical engineer/engineering manager.
- Became FA for Merrill for a few years but medical issues, coupled w/the fact that I hated it, precluded me from continuing.
- Been retired completely ~ 4 years.
- Soul source of income comes from: Traditional IRA, ROTH IRA and Cash Management Account (taxable trading acct).

Looking for community of like-minded individuals. Suggestions?
Many thx in advance.

 

[pb4uski]

I'd suggest that you start a new thread with the post above and include your AA target, what % withdrawal you need from your portfolio, etc. Also, have you run your situation through FIRECalc?

 

[Gumby]

Transferring this here so that we don't hijack Love This Community's intro thread. Thank you for noticing, pb4uski.

 

[FrugalMcDougall]

Newbie to site. Looking for other investors

I was directed to post here. The essence of my OP was: Are there others on this board who are retired/semi-retired, too young to receive SS or any other assistance, and whose primary source of yearly income is via their investment portfolio?

My stats:

-MWM, 52, 3 children total, still helping 2 thru college.
-Retired primarily due to health issues.
-No debt including paid-off home and 2 vehicles. (Home value ~ $225k)
-Initiated a HELOC to use as a bridge-loan facility during times when I need cash immediately for the ST.

-Yearly income fluctuates based on needs and current investment positions. Typically w/draw 60 - 80k/annually; in tranches of 25 - 30k at a time when needed.

- Approximately 85% of total liquid assets currently reside in tax-deferred accts. (ROTH and Traditional). Have a taxable cash management acct. in addition, but I'm working to build balance presently.

LT goals: Get kids out of school and independent. Buy a piece of property with enough acreage to accommodate a modest house and garden, access to clean water, remote enough such that I may hunt on my own property with no one else living on top of us. After that task is complete we'd like to buy a 5th wheel and do some traveling. Consider our desires to be attainable and reasonable.

Thx in advance. Again, hope this is in the right place. If this is just not the right board, please advise.

 

[Winemaker]

Frugal, welcome. You've come to the right place, as some of us have been in your shoes, are in your shoes or want to be in your shoes.

 

[pb4uski]

Our situation was similar. Retired at 56 and only source of money was investments. I had a small pension whose annual benefit was still growing pretty well from 55 to 60 so I left that alone to grow. Basically, we held a 60/35/5 portfolio and lived off of the portfolio. I set up a "monthly paycheck" transfer from cash which was in an online savings account to the credit union checking account that we use to pay our bills. Then in December of each year I rebalanced but replenising cash back to 5% and then rebalancing as needed between stocks and bonds.

What are your percentages of stocks/bonds/cash?