Lucky Guy in Vegas

[poolster]

Hello all, healthy 56 year old single male in Las Vegas, able to push my retirement up significantly due to an inheritance. Own three homes here--only two under water!-but the positive cash flow from the two rentals pays my primary mortgage. Being very financially conservative I have no debt other than the mortgages.

Sold my business a month ago and have been focusing on the brokerage account. Total about 1.9M, 35% munis yieding 27K a year, 55% equities, mostly blue chips, yielding about 10K/yr in dividends, balance cash. Most of my research is being done on fixed income investments--would like to get out of equities completely and live off interest generated, preserving capital. Of course rates on "safe" investments not what they used to be.

Looking forward to learning through this site and through interacting with all of you.

Bob

 

[MichaelB]

Hi poolster, welcome to the forum. Congratulations on your good luck so far.

 

[Mulligan]

Welcome to the forum poolster. Las Vegas and Reno/Tahoe are my favorite places to go visit. In fact Im up for another visit next month to LV!

 

[pb4uski]

The problem with getting out of equities completely at our age (I'm 56 too) is that your investments may not be able to provide cash flows that keeps up with inflation depending on what your initial withdrawal rate is.

Have you run your numbers through Firecalc assuming no equity investments?

 

[obgyn65]

Welcome to the forum, Bob.

 

[Midpack]

Welcome to the forum Bob. Congrats on your progress and established income streams. Getting entirely out of equities is something we'd probably all like to do, but inflation makes that riskier unless your assets are far more than ordinarily needed.