Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Just Retired
Old 05-07-2017, 10:45 AM   #1
Confused about dryer sheets
Join Date: May 2017
Posts: 1
Just Retired

I am a single woman, 67, with $1M in a conservative portfolio at TIAA. My expenses are high: $7000/month. Suggestions on making my money stretch?

jrvasterling is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-07-2017, 11:22 AM   #2
Full time employment: Posting here.
Join Date: Apr 2014
Location: Houston
Posts: 705
Probably need to provide some more information to get good suggestions. For example, unless you have some income you didn't mention (still working, social security, pension, other?), you need to make some drastic changes to your expenses to make your money stretch. You could modify your portfolio for higher risk but it wouldn't make the kind of differences you might need. Some numbers to see where this comment comes from:

a typical 67 woman has ~10% chance of living another 30 yrs

If we look at your assets / expenses in FIRECalc: A different kind of retirement calculator over a 30 yr timeframe with no added income.....
~85% chance you will run out of money
would need to cut expenses to ~ 40k per year (down from 84k/yr) to have a 95% of outliving your money.

Hopefully you still have some income so the above isn't your situation. Let us know a bit more about yourself / goals with this money. Lots of good people to help here.

Whisper66 is online now   Reply With Quote
Old 05-07-2017, 01:27 PM   #3
Thinks s/he gets paid by the post
DrRoy's Avatar
Join Date: Dec 2015
Location: Michigan
Posts: 3,180
Do not pay someone else to manage your money. Do it yourself and save the fee, if you are not already.
"The mountains are calling, and I must go." John Muir
DrRoy is offline   Reply With Quote
Old 05-07-2017, 01:40 PM   #4
Walt34's Avatar
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 21,053
Not enough information on (hopefully) other sources of income. But standing alone $1m is not nearly enough with the posted spending level.
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 05-07-2017, 01:44 PM   #5
Thinks s/he gets paid by the post
Join Date: Mar 2017
Location: New York City
Posts: 2,838
Originally Posted by jrvasterling View Post
I am a single woman, 67, with $1M in a conservative portfolio at TIAA. My expenses are high: $7000/month. Suggestions on making my money stretch?
I certainly have a suggestion. option #1-Marry rich, or option #2- drastically reduce your expenses. i suspect you also have social security which you did not tell us about , then your spending reduction will be less drastic. Im in favor of option 1,
Withdrawal Rate currently zero, Pension 137 % of our spending, Wasted 5 years of my prime working extra for a safe withdrawal rate. I can live like a King for a year, or a Prince for the rest of my life. I will stay on topic, I will stay on topic, I will stay on topic
Blue Collar Guy is offline   Reply With Quote
Old 05-07-2017, 02:50 PM   #6
Thinks s/he gets paid by the post
Golden sunsets's Avatar
Join Date: Jun 2013
Posts: 1,640
In addition to other sources of income can you give us more info on where the $7,000 goes every month(what caregories of spending). Do you have any debt? Do you own your own home? Live in a High or Low cost of living area?

"Luck favors the prepared mind"
Golden sunsets is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
"Retired" nurse struggling to stay retired. CK2015 Hi, I am... 168 09-08-2015 02:36 PM
any retired or semi-retired profs here? palomalou Life after FIRE 12 11-07-2012 11:35 PM
Semi-Retired --> Retired ferco Life after FIRE 8 08-20-2009 05:08 PM

» Quick Links

All times are GMT -6. The time now is 01:26 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.