AreWeThereYet0
Recycles dryer sheets
Hello,
I am 46 years old and recently retired, not exactly by choice, more by circumstance. I have roughly 2.1M in retirement accounts and 1.1M in non retirement accounts. I have found the accumulation phase to be a lot easier to manage than the post retirement period.
My question is how exactly is it suggested I should handle this money (the 1.1M from now at age 46 to age 59.5 when I can start cashing out of my IRAs penalty free? 518K of the 1.1M is already invested in various stocks and mutual funds in a brokerage account but the rest is cash. How should I manage the 582K cash? I will need money to live off of this year in addition to future years and I have no pension or any other income. My family of two (me and my partner) spend roughly 80K a year. I currently have 28% of my IRA in SGOV, which is the iShares 0-3 Month Treasury Bond ETF, would it be a good idea to put some more cash there? Is now when I should implement the 3 bucket strategy? If so, should I use the 3 bucket strategy on all the dough I have for the next 13.5 years? Any direction would be helpful. I am mostly a do it yourselfer when it comes to finances and just occasionally check in with fee only financial advisors to bounce ideas off of and respect your opinions.
Thank you.
-AreWeThereYet0
Retired as of January 2024
I am 46 years old and recently retired, not exactly by choice, more by circumstance. I have roughly 2.1M in retirement accounts and 1.1M in non retirement accounts. I have found the accumulation phase to be a lot easier to manage than the post retirement period.
My question is how exactly is it suggested I should handle this money (the 1.1M from now at age 46 to age 59.5 when I can start cashing out of my IRAs penalty free? 518K of the 1.1M is already invested in various stocks and mutual funds in a brokerage account but the rest is cash. How should I manage the 582K cash? I will need money to live off of this year in addition to future years and I have no pension or any other income. My family of two (me and my partner) spend roughly 80K a year. I currently have 28% of my IRA in SGOV, which is the iShares 0-3 Month Treasury Bond ETF, would it be a good idea to put some more cash there? Is now when I should implement the 3 bucket strategy? If so, should I use the 3 bucket strategy on all the dough I have for the next 13.5 years? Any direction would be helpful. I am mostly a do it yourselfer when it comes to finances and just occasionally check in with fee only financial advisors to bounce ideas off of and respect your opinions.
Thank you.
-AreWeThereYet0
Retired as of January 2024