Could use some advice with a withdrawal strategy...
My wife and I hope to completely punch out next year and have approx $1.8m in our traditional IRA's and $800k in a taxable account. Also have approx $200k in i-bonds and cash. No debt. I'll be 57 and she'll be 59 come January of 2024 if that's relevant. No pensions or any other forms of income. Some might remember a recent thread of mine where I considered cashing out which I have not done. I have, however, put about 300k into short'ish term CD's earning 4.5% or better.
Our Vanguard advisor - a few years ago - suggested that we exhaust our taxable account completely before touching our IRA's but a couple of people have suggested this is not a good idea.
We plan to take SS as soon as we are able (~63 YO). We'll invest whatever we don't need.
Is there a simple strategy that I could/should be following in terms of withdrawing? Perhaps there is an existing thread someone could direct me to that answers some of my questions?
Separately, someone suggested the Fidelity site for retirement planning and I've plugged my info in and it looks like we'll be okay. When playing around with the numbers if I change my asset allocation to be heavier in bonds (moving $ from stocks to bonds) it improves the odds of us doing better. In other words, we'll run out of money 3 years later. This has got me to thinking that maybe I should be selling, albeit slowly, some of my "winners" and investing in CD's that are paying 5% or slightly more for both safety and because rates are attractive now.
Is there some recommended reading I should be looking for? I know that Healthcare will be a big consideration for us which I'm still reviewing.
Thoughts? TIA...
My wife and I hope to completely punch out next year and have approx $1.8m in our traditional IRA's and $800k in a taxable account. Also have approx $200k in i-bonds and cash. No debt. I'll be 57 and she'll be 59 come January of 2024 if that's relevant. No pensions or any other forms of income. Some might remember a recent thread of mine where I considered cashing out which I have not done. I have, however, put about 300k into short'ish term CD's earning 4.5% or better.
Our Vanguard advisor - a few years ago - suggested that we exhaust our taxable account completely before touching our IRA's but a couple of people have suggested this is not a good idea.
We plan to take SS as soon as we are able (~63 YO). We'll invest whatever we don't need.
Is there a simple strategy that I could/should be following in terms of withdrawing? Perhaps there is an existing thread someone could direct me to that answers some of my questions?
Separately, someone suggested the Fidelity site for retirement planning and I've plugged my info in and it looks like we'll be okay. When playing around with the numbers if I change my asset allocation to be heavier in bonds (moving $ from stocks to bonds) it improves the odds of us doing better. In other words, we'll run out of money 3 years later. This has got me to thinking that maybe I should be selling, albeit slowly, some of my "winners" and investing in CD's that are paying 5% or slightly more for both safety and because rates are attractive now.
Is there some recommended reading I should be looking for? I know that Healthcare will be a big consideration for us which I'm still reviewing.
Thoughts? TIA...