ShokWaveRider
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
This post is for those of us who are ~70 years old and do not use or want to use the stock market for any of their future lifetime income and are searching or decent LOW RISK Guaranteed Lifetime Income for their foreseeable future. So PLEASE No Stock Recommendations or reasons to have stock on their portfolio. They want to get the maximum safe return from their nest egg. I do not think I can make it any clearer, discussing stocks will only derail the thread.
Assumptions Not in any particular order.
- A couple has an investable nest egg of around $2m. $1m Qualified IRA and - $1m Taxable Cash.
- They manage their current income well and wish to use the return of their
Nest Egg for Emergencies, Travel, and other discretionary spending.
- They do not have ROTH IRA and do not intend on converting
- They own their own home (No Mortgage)
- They are retired now and are ~70 years old but have not used their nest -
egg to date. They now plan to.
- SS covers their basic needs and current expenses. Both are on Medicare
with a Supplement Part F
- No Stock Exposure
- Inflation notwithstanding, assume the FED Manages to get to the 2% level.
20-25 year time horizon
- Secure the Maximum possible safe MONTHLY return at this juncture from
their $2m Nest Egg.
- Prefer but not totally against staying away from annuities as the returns are
usually well below market rates
- We know Taxes are important but for the purpose of this please ignore
them.
- Up until now the couple have only invested in CDs as they do not really -
understand the overall Bond and fixed income market
- Remember FDIC insurance is $250k single and $500k Joint
I know this is a lot to digest and consider, I was looking at the 500k post earlier, but as usual it got derailed and disrupted by folks who did not read or understand the requirements. I am sorry to repeat myself but hopefully folks will get the idea and respond accordingly.
I am hoping to hear from folks with the same "Won the Game" and do not want to risk their capital approach to the retirement after 70.
Thanks in advance for all your ideas.
Assumptions Not in any particular order.
- A couple has an investable nest egg of around $2m. $1m Qualified IRA and - $1m Taxable Cash.
- They manage their current income well and wish to use the return of their
Nest Egg for Emergencies, Travel, and other discretionary spending.
- They do not have ROTH IRA and do not intend on converting
- They own their own home (No Mortgage)
- They are retired now and are ~70 years old but have not used their nest -
egg to date. They now plan to.
- SS covers their basic needs and current expenses. Both are on Medicare
with a Supplement Part F
- No Stock Exposure
- Inflation notwithstanding, assume the FED Manages to get to the 2% level.
20-25 year time horizon
- Secure the Maximum possible safe MONTHLY return at this juncture from
their $2m Nest Egg.
- Prefer but not totally against staying away from annuities as the returns are
usually well below market rates
- We know Taxes are important but for the purpose of this please ignore
them.
- Up until now the couple have only invested in CDs as they do not really -
understand the overall Bond and fixed income market
- Remember FDIC insurance is $250k single and $500k Joint
I know this is a lot to digest and consider, I was looking at the 500k post earlier, but as usual it got derailed and disrupted by folks who did not read or understand the requirements. I am sorry to repeat myself but hopefully folks will get the idea and respond accordingly.
I am hoping to hear from folks with the same "Won the Game" and do not want to risk their capital approach to the retirement after 70.
Thanks in advance for all your ideas.
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