Trying to play out a scenario where someone has $1M in a tax-deferred account and they need to withdraw a fixed amount of $70k per year for 10 years and want to still have close to $1M after 10 years.
Is this possible? How could I achieve this with low to moderate risk? Should I just put the $1M in a S&P 500 fund and forgot about it? Should I put $500k in a S&P 500 fund and $500k in a fixed income fund?
Just curious how others would approach this scenario.
FYI. Here is how the scenario would play out if the $1M was invested in the S&P 500 for the last 10 years.
Is this possible? How could I achieve this with low to moderate risk? Should I just put the $1M in a S&P 500 fund and forgot about it? Should I put $500k in a S&P 500 fund and $500k in a fixed income fund?
Just curious how others would approach this scenario.
FYI. Here is how the scenario would play out if the $1M was invested in the S&P 500 for the last 10 years.