Hi all,
I've posted here a few times, but read your comments all the time. I'm 63 , and still teaching high school overseas in international schools. I'm going to definitely retire in less than a month and live in a country that has become my home,Singapore. I know the cost of living there and can do alright, especially through tutoring and minimal part-time teaching.
My retirement plan is through TIAA-CREF. I've been with them since 1975 sending money in pretty consistently. I currently am receiving $2,650/month on the interest from my TIAA annuity. If I annuitized that account, I'd receive about $4,500, which given my simple lifestyle is more than adequate. However, I will live off the interest ($2,650) for the next few years and not annuitize until I'm almost 70.
I have enough in my bank account to last a year or even 18 months. I will most likely hold off on receiving social security until I'm 65 or 66 but receive only $700-$800/month My concern comes from the $170,000 in my TIAA-CREF I have left to play around with. For many months I had that money in a money market account with TIAA-CREF, and while it preserved the principal, the interest was 0%. I recently transferred all the money into CREF stock (70%) and CREF bonds (30%).
Would you consider that reckless, conservative, or aggressive? Is it logical in your opinion to know that if you have a stable income from TIAA-CREF coming in (and enough in your bank account for emergency funds) until you kick the bucket, is throwing the rest into the stock and bond market reckless? I look at the 10% drop in the market, and I could kick myself for transferring my funds into stocks and bonds.
Thanks for any insights or opinions.
Regards,
Rob
I've posted here a few times, but read your comments all the time. I'm 63 , and still teaching high school overseas in international schools. I'm going to definitely retire in less than a month and live in a country that has become my home,Singapore. I know the cost of living there and can do alright, especially through tutoring and minimal part-time teaching.
My retirement plan is through TIAA-CREF. I've been with them since 1975 sending money in pretty consistently. I currently am receiving $2,650/month on the interest from my TIAA annuity. If I annuitized that account, I'd receive about $4,500, which given my simple lifestyle is more than adequate. However, I will live off the interest ($2,650) for the next few years and not annuitize until I'm almost 70.
I have enough in my bank account to last a year or even 18 months. I will most likely hold off on receiving social security until I'm 65 or 66 but receive only $700-$800/month My concern comes from the $170,000 in my TIAA-CREF I have left to play around with. For many months I had that money in a money market account with TIAA-CREF, and while it preserved the principal, the interest was 0%. I recently transferred all the money into CREF stock (70%) and CREF bonds (30%).
Would you consider that reckless, conservative, or aggressive? Is it logical in your opinion to know that if you have a stable income from TIAA-CREF coming in (and enough in your bank account for emergency funds) until you kick the bucket, is throwing the rest into the stock and bond market reckless? I look at the 10% drop in the market, and I could kick myself for transferring my funds into stocks and bonds.
Thanks for any insights or opinions.
Regards,
Rob