ShokWaveRider
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Hi all:
Happy ER.
I am trolling for advice or good places to look for it. I am very wary of financial planners of any sort. (I made it this far on my own) I would love to hear from people in a similar situation to myself with about the same amount of assets, or at least the same amount in comparable dollars when they ER'd.
The Story:
My wife and I are 50 and 45 Respectively. We retired last year and sold all our hard assets (Yes including the house) to travel. We will be doing so for another year then will most likely settle down, someplace. (TBD) Canada, Caribbean or USA are options on the table at the moment. We are very open to recommendations.
We have $1.2m in after tax cash investments CD's mainly. And $400k in MM in Pre-Tax 401K accounts. Total Income is about 3% of this total. We have some left over tax credits that make our tax base very low for a couple of years.
We are living off the poultry (LOW) interest at the moment and NOT taking any capital draw down not even 2%. We have NO OTHER SOURCES of income.... yet.
At present we get economical health care in Canada. As we are temporarily living there when not on the road, with my sister, at least for the Canadian Summer. We will be sailing in the Caribbean for the winter and possibly going to Europe next year.
We will be filing Taxes in Florida next this/next year.
Remember we do not own a house any more. I am VERY adverse to any risk of any kind as we are just about comfortable that our capital, if not lost, may last us our life expectancy.
I read a lot about TIPS and BONDS on this forum but really do not understand how to hold them or buy them into a portfolio, from whom, where and when I would want to buy them. The Government Sites talks about Auctions of Bonds etc. Hence why I am comfortable with CD's for now.
Please remember, If I buy bonds now as interest rates are going up, I could loose, the same with stocks. I have been reviewing Vanguard funds and like their expense ratios, but not their current returns on the stable value funds. Most of the cash is tied up till the end of the year anyway. We can do what we like with our 401ks, but currently they are getting 4% where they are. It is the cash investment that has a lower return.
Oh, we are still toying over Buying or Renting in our retirement, but $400k of the above is allocated for a home, when we do decide. This will leave $1.2m to live on. Our plans are to slowly convert the 401K money to After TAX funds using the 72(T) option.
Any comments or advice or pointers would be appreciated.
SWR
Happy ER.
I am trolling for advice or good places to look for it. I am very wary of financial planners of any sort. (I made it this far on my own) I would love to hear from people in a similar situation to myself with about the same amount of assets, or at least the same amount in comparable dollars when they ER'd.
The Story:
My wife and I are 50 and 45 Respectively. We retired last year and sold all our hard assets (Yes including the house) to travel. We will be doing so for another year then will most likely settle down, someplace. (TBD) Canada, Caribbean or USA are options on the table at the moment. We are very open to recommendations.
We have $1.2m in after tax cash investments CD's mainly. And $400k in MM in Pre-Tax 401K accounts. Total Income is about 3% of this total. We have some left over tax credits that make our tax base very low for a couple of years.
We are living off the poultry (LOW) interest at the moment and NOT taking any capital draw down not even 2%. We have NO OTHER SOURCES of income.... yet.
At present we get economical health care in Canada. As we are temporarily living there when not on the road, with my sister, at least for the Canadian Summer. We will be sailing in the Caribbean for the winter and possibly going to Europe next year.
We will be filing Taxes in Florida next this/next year.
Remember we do not own a house any more. I am VERY adverse to any risk of any kind as we are just about comfortable that our capital, if not lost, may last us our life expectancy.
I read a lot about TIPS and BONDS on this forum but really do not understand how to hold them or buy them into a portfolio, from whom, where and when I would want to buy them. The Government Sites talks about Auctions of Bonds etc. Hence why I am comfortable with CD's for now.
Please remember, If I buy bonds now as interest rates are going up, I could loose, the same with stocks. I have been reviewing Vanguard funds and like their expense ratios, but not their current returns on the stable value funds. Most of the cash is tied up till the end of the year anyway. We can do what we like with our 401ks, but currently they are getting 4% where they are. It is the cash investment that has a lower return.
Oh, we are still toying over Buying or Renting in our retirement, but $400k of the above is allocated for a home, when we do decide. This will leave $1.2m to live on. Our plans are to slowly convert the 401K money to After TAX funds using the 72(T) option.
Any comments or advice or pointers would be appreciated.
SWR