supernova72
Recycles dryer sheets
I'm looking for options in creating a passive income stream. I've posted before pre-ER but some details below. I didn't have a lot of time to prepare for ER due to Megacorp downsizing and severance buyout (layoff) event in July of 2016. So I'm 8 months into *retirement* and have 95% of my investment income (outside of my pension) in the Megacorops 401K. Cheers and thanks in advance.
A bit about me:
So I checked my 401K and there is not an option that I can see to have dividends paid to me directly. Beyond my pension I'm looking to get about $1000 a month in passive income. For whatever reason I don't want to draw down my 401K yet?
I can probably skate by in 2017 without a draw down but in 2018 things will change as my savings will be mostly drawn down (property taxes, fed taxes). Thanks in advance!
A bit about me:
- 56 yrs old
- Single
- 725K in 401K with 68%/32% asset allocation
- $15K in cash. $12K in Brokerage acct (realize this is not large)
- Pension (non cola) at $43K a year
- Expenses are 55K a year (includes taxes, vacations)
- Home value is $575K (small home in Seattle WA, no mortgage)
- I get retiree medical for $17 a month. Very thankful.
So I checked my 401K and there is not an option that I can see to have dividends paid to me directly. Beyond my pension I'm looking to get about $1000 a month in passive income. For whatever reason I don't want to draw down my 401K yet?
I can probably skate by in 2017 without a draw down but in 2018 things will change as my savings will be mostly drawn down (property taxes, fed taxes). Thanks in advance!
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