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I'm about 5 years from retirement at age 55. I'll have a six-figure pension (no COLA), and my current liquid investment portfolio is around $810k.
Between now and retirement, I plan to:
My stretch goal is to reach $2 million in liquid investments by retirement. Realistically, I think I'll end up somewhere around $1.6 million+.
Outside of my investment portfolio, I also own about $1.6 million in rental properties with roughly $600k remaining in debt.
The nice thing is my pension should cover my normal living expenses, so retirement shouldn't require me to change my lifestyle. That said...I definitely plan on spending a little more on the fun stuff. A new truck is on the list, and maybe even a dream car like a Corvette ZR1X. I also want to do a lot more traveling.
If I can grow my portfolio enough, I'd love to withdraw around 3%–4% annually, giving me roughly $60,000+ per year for travel, vehicles, and other extras while letting my pension handle the necessities.
One thing I've been thinking about is income investing. Does anyone use SCHD or other dividend-focused ETFs/stocks in retirement to create a steady stream of income instead of periodically selling shares?
I'd love to hear your thoughts.
Between now and retirement, I plan to:
- Max out my 457(b), Roth IRA, and HSA every year.
- Invest as much as I can into a taxable brokerage account.
My stretch goal is to reach $2 million in liquid investments by retirement. Realistically, I think I'll end up somewhere around $1.6 million+.
Outside of my investment portfolio, I also own about $1.6 million in rental properties with roughly $600k remaining in debt.
The nice thing is my pension should cover my normal living expenses, so retirement shouldn't require me to change my lifestyle. That said...I definitely plan on spending a little more on the fun stuff. A new truck is on the list, and maybe even a dream car like a Corvette ZR1X. I also want to do a lot more traveling.
If I can grow my portfolio enough, I'd love to withdraw around 3%–4% annually, giving me roughly $60,000+ per year for travel, vehicles, and other extras while letting my pension handle the necessities.
One thing I've been thinking about is income investing. Does anyone use SCHD or other dividend-focused ETFs/stocks in retirement to create a steady stream of income instead of periodically selling shares?
I'd love to hear your thoughts.
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