Now we have $7K in Social Safety and $2.5 million in shares. What might go unsuitable?
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Dear Quentin,
I am retiring next year, but I hope to wait until January 2027 before I draw Social Security at 69½. My husband will also retire in January 2027 when he turns 65. I estimate our combined Social Security income at $7,000 a month. Furthermore, I have built a 15-year TIPS ladder from my husband’s old retirement accounts and additional funds from an aftertax mutual fund; that should provide an additional $60,000 per year.
Currently, I have $1.9 million in my 401(k) and $200,000 in a 457(b) managed annuity account. My husband has about $100,000 (S&P 500) in his current workplace IRA. We have $500,000 in a money-market account and $220,000 (S&P 500
SPX) in a mutual fund. We own our home, which may sell for $400,000 when we retire.