We live in Kansas and since we hate it here, and its going down hill in Wichita [Boeing pulling out and collapse of the air industry] we have sold our home in Kansas and bought a home in Florida. We have a closing date of this week on selling our home here and a closing date of Feb. 25th there. We are going to rent here for a couple of months and my wife will put in her notice on her job a couple of weeks before we move.
Our situation is we have 1.3m in investments of mostly CDs. of that in IRAs stocks like ED,BP,and some mut funds. My CDs bring in 4 to 5% a year but now with jumbos bringing in 1.71% we have to do something else.
We have been very Conservative and were happy with 5% when the market was bringing in 15 and higher all the time. So I am looking at investing in stable stocks like ED,CPL,AEP,MRK,PFE,BP,SO,XDM,DUK,RDSA,WIN,BMY,MO. I was thinking of doing 20k in each and most of them pay 4 to 5 percent dividends. I was used to getting a monthly check from my CDs and since Florida has no guarantee that my wife can find even an entry level job in banking to get health care and a small income to offset any bills we have I need to invest to bring a level of income to not only increase my balance but to live on. I can live on 40k a year and save some of that and do fine. If I live on the 1.3 M with no interest or dividend than I can go till I am 80, and use SS as a cola for any inflation. But I would rather live off of dividends.
I am a novice at this and have just done the simple interest CD rates over the years, so any help you pros can give me would be appreciated. Thanks.
Our situation is we have 1.3m in investments of mostly CDs. of that in IRAs stocks like ED,BP,and some mut funds. My CDs bring in 4 to 5% a year but now with jumbos bringing in 1.71% we have to do something else.
We have been very Conservative and were happy with 5% when the market was bringing in 15 and higher all the time. So I am looking at investing in stable stocks like ED,CPL,AEP,MRK,PFE,BP,SO,XDM,DUK,RDSA,WIN,BMY,MO. I was thinking of doing 20k in each and most of them pay 4 to 5 percent dividends. I was used to getting a monthly check from my CDs and since Florida has no guarantee that my wife can find even an entry level job in banking to get health care and a small income to offset any bills we have I need to invest to bring a level of income to not only increase my balance but to live on. I can live on 40k a year and save some of that and do fine. If I live on the 1.3 M with no interest or dividend than I can go till I am 80, and use SS as a cola for any inflation. But I would rather live off of dividends.
I am a novice at this and have just done the simple interest CD rates over the years, so any help you pros can give me would be appreciated. Thanks.