ShokWaveRider
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We have all our nest egg in cash instruments. They are split between Qualified and Non Qualified (No Funds or Stock Market investments, all CDs or 401k guaranteed or MM instruments).
The Percentages are fairly evenly split. 60% has had taxes pain and 40% is in 401k & 427b with taxes due upon withdrawal. Our ages are 65 & 60 respectively.
What I would like to do is invest the lot in a 3% or greater Fixed Income instrument and with draw a specific percentage (4-5%) every year. I have calculated if we did this it would last us for ~40 years with a 1.5% annual increase.
We do not want an annuity. We do not want to put money in the stock market, with the current Net Egg there is no need. We are very comfortable and have worked out that we have more than enough for our future needs.
Is there a CD "like" Instrument that allows systematic withdrawals as I have described?
Thanks
The Percentages are fairly evenly split. 60% has had taxes pain and 40% is in 401k & 427b with taxes due upon withdrawal. Our ages are 65 & 60 respectively.
What I would like to do is invest the lot in a 3% or greater Fixed Income instrument and with draw a specific percentage (4-5%) every year. I have calculated if we did this it would last us for ~40 years with a 1.5% annual increase.
We do not want an annuity. We do not want to put money in the stock market, with the current Net Egg there is no need. We are very comfortable and have worked out that we have more than enough for our future needs.
Is there a CD "like" Instrument that allows systematic withdrawals as I have described?
Thanks