Another portfolio review, as I approach retirement

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Topic Author
togb
Posts: 319
Joined: Mon Oct 23, 2017 8:36 pm

Another portfolio review, as I approach retirement

Post by togb »

Hi, I’m back! A couple years ago I first posted my portfolio, and got great advice. Since then I’ve moved from almost 100% stocks, and almost 100% before tax retirement savings—now my AA is about 65/35, and I’m more than half way to my targeted Roth $$ amount. I still have too many accounts, and too many positions—but things are much improved. I’ve sold off some positions, or reduced them, in order to shift about 1/3 of my portfolio to bonds. Despite my salary being reduced significantly during the pandemic, I managed to continue contributing to the 401K. And now I’m back, because I’m trying to make sure I’m getting things in order for retirement, which if I get my way, is less than 2 years away.

Here's the updated landscape:

Emergency funds: Yes, little emergencies would come from brokerage cash. Loss of income would come from retirement resources (six months in cash, several years in bonds)

Debt: Mortgage on primary residence, at 2.875% 30 yr fixed. Balance 275K, value 500K. Not in a hurry to pay it down but might refi one more time to further lower the rate. Several credit cards, all paid off each month, no balances carry forward. No debt on vehicles.

Tax Filing Status: (Single, no dependents

Tax Rate: 24% marginal rate for Federal, no state taxes

State of Residence: Texas

Age: 63

Desired Asset allocation: 65% stocks / 35% bonds
Desired International allocation: <5% of stocks

Approximate size of total retirement portfolio is 2 million. Non retirement: 50K, and a paid for investment property worth $250-300K. Would net 75% after selling expenses and taxes.

Show us your current portfolio including all investment and retirement accounts

Show each fund or holding as a percentage of the entire portfolio, not as a percentage of the account that holding is in. If this instruction is not clear, see the example under the Key Points section below. For example:

Current retirement assets


Taxable account is 2.5% of total portfolio
0% cash for investing
2% in tax exempt muni funds
<1% American Express Stock

Rollover IRA with Schwab this account is 68% of total assets
22% stocks (American Express, Exxon, Procter & Gamble, General Motors, J&J, Disney and a couple REITS)
10% Stock EFTs
11% Stock Funds (VDIGX, PRBLX and SWTSX)
20% Bond EFTs and Funds (VCLT, VCSH, BSCM, BND, VGIT, PONAX)
5% cash.

Roth IRA Schwab at Schwab 9% of portfolio
3% individual stocks (Microsoft, Ford, Verizon, GE)
5% Stock EFTs/Funds
1% Bond funds and cash


401K IRA with employer, held at TRowePrice (14% of total) have moved some VINIX to the target date and income funds, to move to a more conservative AA. About 20% of this 401K is Roth, and all new contributions are Roth. I’m trying to retire with more Roth Funds, and feel it’s a little silly to keep contributing before tax just to have more I need to roll over.
5% Vanguard Institutional Index VINIX .03
5% Vanguard Target Date 2025 .09
3% Vanguard Retirement Income .09
1% Vanguard Target Date 2030 .09


Inherited IRA represents 3% of assets
2% in VIDGX (Vanguard Dividend) and DNP for the 7% dividend.
1% in bond fund and cash
Required to take modest annual RMDs

Individual IRA at Fidelity represents 3% of assets, plan is to convert this to Roth
1.5% in Stocks (American Express, AT&T)
1% Fidelity Total Bond Fund (FTBFX)
.5% cash


Contributions

New annual Contributions
401K, have reduced to 10K/year and it’s going to Roth. Employer contributes 4K per year, to before tax.



Questions: First a bit more about my situation and what I’ve been doing/fine-tuning:

1. I don’t want to always have this many accounts, across 3 brokerages. My plan is to convert the Fidelity IRA to a Roth- which I opened at Fidelity for ease of quick online transfers. If I end up with two Roth accounts I can live with that—I see my Roth funds as EF, as well as cushion if I need income without it being a taxable event. When I retire, I will roll over the 401K, likely moving most of those Vanguard Funds “in kind” to my rollover IRA and Roth at Schwab. So no more TRowePrice. Then I’ll have most things at Schwab, and a small Roth at Fidelity.

2. I realize that my individual stocks don’t fit the Bogglehead philosophy. I’ve reduced them by taking profits in order to get into bond funds and EFTs that moved me from 98/2 to about 65/35 over the last few years. I’m not buying more stocks, but I’m not eliminating them from the mix. All but one have nice gains, and most pay nice dividends.

3. I will turn 65 early in 2023, which means I can move Medicare, which I understand will be more affordable than Cobra or just buying coverage. The plan is to work til I can have Medicare. If I can arrange for reduced hours or a sabbatical next year, I’d like to do it—if I’m in good shape for retirement. I “think” I am. My expenses in retirement will not change much—about $100K/year, which would be 70K after considering SS. $70K x 25 would be $1750… so that’s been my target for before tax funds. (In my mind, I keep the Roth separate as my cushion.) Of course the rub is that I have to bridge a couple years before I want to start SS—I was planning on FRA which basically is 67. This means I need some extra money to live on, while I’m doing Roth conversions but trying to manage the tax bite and maybe even IRMA cliffs.

4. This brings me to my investment property. I have one rental house, that cash flows really well. I had always intended to just keep it, but with the crazy prices, wondering if it makes sense to sell it, pay the capital gains and take the recaptured depreciation—but then set the proceeds aside in after tax so it can be used to bridge in a non taxable way. I’d probably net 200K on the sale if I do it this year. If prices hold, it would be better to do it next year when the current lease is up.

Now my questions.

1. Do I basically have enough to retire?
2. Given that I want/need another $100-200K in Roth funds, and I’m already in the 24% marginal rate, is there a smarter way to do so than paying 24% tax?
3. I started going crazy about IRMA cliffs, then finally realized the annual penalty was not unmanageable, if the reasons for the higher AGI were good. Am I missing something?
4. I have AXP stock in my rollover IRA, and understand there is a way I can withdraw it and not be taxed on the gain, since that was my employer… is this true, and if so, how do you do it?
5. What am I missing in my planning? I really do need to get this right. I’m single, this is all on me to get it right. I’ve wondered if I should hire someone to do an assessment and lay it all out.

Thanks to all who have read through all this, and offer thoughts, suggestions. I appreciate it
Last edited by togb on Sun Jul 25, 2021 7:14 pm, edited 1 time in total.
sycamore
Posts: 6309
Joined: Tue May 08, 2018 12:06 pm

Re: Another portfolio review, as I approach retirement

Post by sycamore »

Welcome back togb!
togb wrote: Sun Jul 25, 2021 5:03 pm Tax Filing Status: (Single, Married Filing Jointly, Married Filing Separately, Head of Household, Qualifying Widow/Widower with Dependent Children)
I'll look over your full post in a bit but wanted to point out your tax status answer above. The bottom of your posts indicates you're single; please update your original post so other readers aren't confused :)
Topic Author
togb
Posts: 319
Joined: Mon Oct 23, 2017 8:36 pm

Re: Another portfolio review, as I approach retirement

Post by togb »

sycamore wrote: Sun Jul 25, 2021 6:59 pm Welcome back togb!
togb wrote: Sun Jul 25, 2021 5:03 pm Tax Filing Status: (Single, Married Filing Jointly, Married Filing Separately, Head of Household, Qualifying Widow/Widower with Dependent Children)
I'll look over your full post in a bit but wanted to point out your tax status answer above. The bottom of your posts indicates you're single; please update your original post so other readers aren't confused :)
Done- sorry, I missed that from my "fill in the cut and paste" exercise. Thanks for the heads up.
sycamore
Posts: 6309
Joined: Tue May 08, 2018 12:06 pm

Re: Another portfolio review, as I approach retirement

Post by sycamore »

togb wrote: Sun Jul 25, 2021 5:03 pm 1. I don’t want to always have this many accounts, across 3 brokerages. My plan is to convert the Fidelity IRA to a Roth- which I opened at Fidelity for ease of quick online transfers. If I end up with two Roth accounts I can live with that—I see my Roth funds as EF, as well as cushion if I need income without it being a taxable event. When I retire, I will roll over the 401K, likely moving most of those Vanguard Funds “in kind” to my rollover IRA and Roth at Schwab. So no more TRowePrice. Then I’ll have most things at Schwab, and a small Roth at Fidelity.
Whether you want to keep multiple Roth IRA is up to you. But it's certainly reasonable to consolidate your Fidelity IRA to Schwab if you decide to prioritize simplicity. You would sell the FTBFX prior to transferring assets and then picking a bond ETF (like BND or AGG) or a Schwab total bond fund once at Schwab.
togb wrote: Sun Jul 25, 2021 5:03 pm 1. Do I basically have enough to retire?
Double checking this is your timeline?
63 - 65: continue working for income, no withdrawals from any accounts
66 - 67: retired, need to withdraw $100k/year for expenses
68+: take Social Security at $30k/year, need to withdraw $70k/year for expenses

If we assume you sell your real estate property and net $200k, your retirement portfolio is $2.2m.

In "bucket" terms, you could play it safe by taking the $200k bridge money "out of the portfolio" and into a short-term bond fund. That leaves you with $2.0m to cover $70k/year, which is a 3.5% withdrawal rate. Whether that's "safe" or not is an endlessly debated question here on Bogleheads. I'd say it's reasonably safe. I do think there are valid concerns about the current low rate and high price stock environment. But 3.5% for a 30 year retirement is good, and you're only aiming for 25.

How much flexibility do you have in that $70k/year? $67k/year is 3.4% withdrawal rate. $65k/year is 3.3%.

One caveat: does the $70k/year include taxes? Taxes are always a wildcard.

One thing may be in your favor: once your mortgage is paid off your yearly expenses should drop. How many years left on it do you have?

General suggestions... Be prepared to cut back spending and consider various withdrawal methods (like https://www.bogleheads.org/wiki/Variabl ... withdrawal). Even a part-time job paying $12k for a few years would actually go quite far to make sure your portfolio lasts.
togb wrote: Sun Jul 25, 2021 5:03 pm 2. Given that I want/need another $100-200K in Roth funds, and I’m already in the 24% marginal rate, is there a smarter way to do so than paying 24% tax?
Conversion after you retire seems like the best time.
togb wrote: Sun Jul 25, 2021 5:03 pm 3. I started going crazy about IRMA cliffs, then finally realized the annual penalty was not unmanageable, if the reasons for the higher AGI were good. Am I missing something?
I'm not too familiar with IRMAA but it's based on income from 2 years before (?) and is revisited every year, so you're right that if you can absorb the penalty that's good. Don't want to want the tax tail to wag the dog.
togb wrote: Sun Jul 25, 2021 5:03 pm 4. I have AXP stock in my rollover IRA, and understand there is a way I can withdraw it and not be taxed on the gain, since that was my employer… is this true, and if so, how do you do it?
I'm not sure how you can get around paying taxes. You hear stories about such and such, but I thought the basic tax-deferred setup was true for everyone: (1) you contribute money to an IRA or 401k/403b/457 and get an up-front tax benefit. (2) You invest that money in whatever stocks or bonds. (3) When you withdraw from the IRA, the amount withdrawn is treated and taxed as income.
togb wrote: Sun Jul 25, 2021 5:03 pm 5. What am I missing in my planning? I really do need to get this right. I’m single, this is all on me to get it right. I’ve wondered if I should hire someone to do an assessment and lay it all out.
I'd check https://opensocialsecurity.com/ for a recommendation on ideal time to claim SS. If you have a better idea of your life expectancy (lower or higher than expected/actuarial) that would be a reason to reconsider the recommendation.
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Watty
Posts: 28813
Joined: Wed Oct 10, 2007 3:55 pm

Re: Another portfolio review, as I approach retirement

Post by Watty »

togb wrote: Sun Jul 25, 2021 5:03 pm 401K, have reduced to 10K/year and it’s going to Roth.
Sine you are over 55 you can contribute up to $26K a year so there is $16K that you are not using.

Here are two things you can do with that $16K of 401k space.

1) Make extra Roth 401k contributions each month and use money from the taxable account for your living expenses. For example you could increase your Roth 401 contribution by $1,000 a month and take $1,000 a month from the taxable account for your living expenses.

2) Do something similar with the inherited IRA. For example you could increase your tradition 401K payroll contribution by $1,000 a month and withdraw an extra $1,000 a month from the inherited IRA. These should offset each other on your taxes. An advantage of this is that it will reduce the RMD the next year.

togb wrote: Sun Jul 25, 2021 5:03 pm 4. This brings me to my investment property. I have one rental house, that cash flows really well. I had always intended to just keep it, but with the crazy prices, wondering if it makes sense to sell it, pay the capital gains and take the recaptured depreciation—but then set the proceeds aside in after tax so it can be used to bridge in a non taxable way. I’d probably net 200K on the sale if I do it this year. If prices hold, it would be better to do it next year when the current lease is up.
It would be good to do dummy tax returns to figure out all the details since you will have high income in retirement you might not be in a lower tax bracket when you are retired. If you are in the income range where additional income causes more of your Social Security to be taxable that could put you into a surprisingly high tax bracket. Be sure to understand how Social Security is taxed since it is complex.

https://www.bogleheads.org/wiki/Taxatio ... y_benefits

This web site may be useful in deciding when to start Social Security.

https://opensocialsecurity.com/

When you are figuring out what to do keep in mind that the tax rates that went down a few years ago are scheduled to revert to the old higher tax rates in 2026.

Also consider how having the rental will work when you are older and may not be as financially capable. Even with a property management company you will see need to keep and eye on them and occasionally hire a new property manager.

I would really take a hard look at selling the rental and using that equity to pay down your mortgage. At least for me having a paid off house made my retirement numbers work better and allowed me to keep in a lower tax bracket since I did not need the extra income to pay a mortgage payment.
togb wrote: Sun Jul 25, 2021 5:03 pm My expenses in retirement will not change much—about $100K/year, which would be 70K after considering SS. $70K x 25 would be $1750… so that’s been my target for before tax funds.
How much of that is your mortgage payment?

Just some very wild guesses but if your mortgage payment is $15k a year then you would only need $55k in income if you paid off the mortgage. Once you are 65 your standard deduction would be a bit over $14K so you might only need $41K in taxable income. As mentioned before a big question is how your Social Security would be taxed.

I did not crunch the numbers but it would be good to do some dummy tax returns to figure out what your retirement tax bracket would be if you paid off your house.
togb wrote: Sun Jul 25, 2021 5:03 pm 5. What am I missing in my planning? I really do need to get this right. I’m single, this is all on me to get it right. I’ve wondered if I should hire someone to do an assessment and lay it all out.
One big thing that is missing is simplicity.

You know that you still have too many accounts, funds, and stock and one of the challenges of being single is you do not have a spouse to double check your financial decisions or to take over if you have a stroke or something. One early sign of Alzheimer's is making poor or reckless financial decisions and you may not have anyone who will notice if you start making poor choices.

I am about your age and I have moved most of my funds into target date funds to make it easier to manage as I age or easier for my wife, who knows less about investing, to manage if she needs to.

There are no tax issues with moving fund around in the retirement accounts so it would be really good to simplify them sooner than later.
Topic Author
togb
Posts: 319
Joined: Mon Oct 23, 2017 8:36 pm

Re: Another portfolio review, as I approach retirement

Post by togb »

sycamore wrote: Sun Jul 25, 2021 8:24 pm
togb wrote: Sun Jul 25, 2021 5:03 pm 1. I don’t want to always have this many accounts, across 3 brokerages. My plan is to convert the Fidelity IRA to a Roth- which I opened at Fidelity for ease of quick online transfers. If I end up with two Roth accounts I can live with that—I see my Roth funds as EF, as well as cushion if I need income without it being a taxable event. When I retire, I will roll over the 401K, likely moving most of those Vanguard Funds “in kind” to my rollover IRA and Roth at Schwab. So no more TRowePrice. Then I’ll have most things at Schwab, and a small Roth at Fidelity.
Whether you want to keep multiple Roth IRA is up to you. But it's certainly reasonable to consolidate your Fidelity IRA to Schwab if you decide to prioritize simplicity. You would sell the FTBFX prior to transferring assets and then picking a bond ETF (like BND or AGG) or a Schwab total bond fund once at Schwab.
togb wrote: Sun Jul 25, 2021 5:03 pm 1. Do I basically have enough to retire?
Double checking this is your timeline? This also builds in a bit of cushion since SS should be 34K at that age, and the 100K is "rounded up" to allow some discretionary spend, travel etc. I probably would not work the entire year that I'm 65,
63 - 64: continue working for income, no withdrawals from any accounts
65 - 67: retired, need to withdraw $100k/year for expenses (first year, withdraw less since will work at least a couple months)
68+: take Social Security at $30k/year, need to withdraw $70k/year for expenses

If we assume you sell your real estate property and net $200k, your retirement portfolio is $2.2m.

In "bucket" terms, you could play it safe by taking the $200k bridge money "out of the portfolio" and into a short-term bond fund. That leaves you with $2.0m to cover $70k/year, which is a 3.5% withdrawal rate. Whether that's "safe" or not is an endlessly debated question here on Bogleheads. I'd say it's reasonably safe. I do think there are valid concerns about the current low rate and high price stock environment. But 3.5% for a 30 year retirement is good, and you're only aiming for 25.

How much flexibility do you have in that $70k/year? $67k/year is 3.4% withdrawal rate. $65k/year is 3.3%. There's about 15% cushion build in.

One caveat: does the $70k/year include taxes? Taxes are always a wildcard. I assumed 20% federal taxes on the entire income-- I suspect part of SS won't be taxed. But it's also where I see Roth money coming in handy, since I can withdraw without it being taxable.

One thing may be in your favor: once your mortgage is paid off your yearly expenses should drop. How many years left on it do you have? I just refinanced, so have decades left. I'm conflicted on whether to prioritize paying it down. About 40% of that mortgage was cash out to pay off the investment property, since it had a higher rate. When I sell that property, I would probably pay that amount down on the mortgage. The current payment is about $15K/year, and taxes/insurance add another $6500.

General suggestions... Be prepared to cut back spending and consider various withdrawal methods (like https://www.bogleheads.org/wiki/Variabl ... withdrawal). Even a part-time job paying $12k for a few years would actually go quite far to make sure your portfolio lasts.
togb wrote: Sun Jul 25, 2021 5:03 pm 2. Given that I want/need another $100-200K in Roth funds, and I’m already in the 24% marginal rate, is there a smarter way to do so than paying 24% tax?
Conversion after you retire seems like the best time. I'm actively converting now-- since my withdrawals will be close to my employment earnings, the tax impact won't change. So I'm of a mind to "get on with it". I'm thinking there's no way taxes are going down post pandemic relief, so would rather have this in place before it's even more expensive to convert. Also, I see my before tax assets driving more RMD than I need. What am I missing?
togb wrote: Sun Jul 25, 2021 5:03 pm 3. I started going crazy about IRMA cliffs, then finally realized the annual penalty was not unmanageable, if the reasons for the higher AGI were good. Am I missing something?
I'm not too familiar with IRMAA but it's based on income from 2 years before (?) and is revisited every year, so you're right that if you can absorb the penalty that's good. Don't want to want the tax tail to wag the dog. YES-- gotta put the dog ahead of the tail, great anology.
togb wrote: Sun Jul 25, 2021 5:03 pm 4. I have AXP stock in my rollover IRA, and understand there is a way I can withdraw it and not be taxed on the gain, since that was my employer… is this true, and if so, how do you do it?
I'm not sure how you can get around paying taxes. You hear stories about such and such, but I thought the basic tax-deferred setup was true for everyone: (1) you contribute money to an IRA or 401k/403b/457 and get an up-front tax benefit. (2) You invest that money in whatever stocks or bonds. (3) When you withdraw from the IRA, the amount withdrawn is treated and taxed as income.
togb wrote: Sun Jul 25, 2021 5:03 pm 5. What am I missing in my planning? I really do need to get this right. I’m single, this is all on me to get it right. I’ve wondered if I should hire someone to do an assessment and lay it all out.
I'd check https://opensocialsecurity.com/ for a recommendation on ideal time to claim SS. If you have a better idea of your life expectancy (lower or higher than expected/actuarial) that would be a reason to reconsider the recommendation.
Thank you so much for taking the time for such a thoughtful response, it's much appreciated!
Topic Author
togb
Posts: 319
Joined: Mon Oct 23, 2017 8:36 pm

Re: Another portfolio review, as I approach retirement

Post by togb »

Watty wrote: Sun Jul 25, 2021 9:00 pm
togb wrote: Sun Jul 25, 2021 5:03 pm 401K, have reduced to 10K/year and it’s going to Roth.
Sine you are over 55 you can contribute up to $26K a year so there is $16K that you are not using.
togb wrote: Sun Jul 25, 2021 5:03 pm
Fair point. I reduced my contributions when my salary was reduced due to the pandemic, but opted not to return.... I'd always done before tax contributions, and now my before tax portfolio is headed to driving bigger RMDs than I want. So I'm actually doing Roth conversions. I still contribute more than enough to get the match but with conversions I can transfer positions in kind. I figure it's sixes in taxwise, since Roth contribution and Roth conversion drive the identical tax liability. But the conversion shifts stuff out of before tax to Roth.

4. This brings me to my investment property. I have one rental house, that cash flows really well. I had always intended to just keep it, but with the crazy prices, wondering if it makes sense to sell it, pay the capital gains and take the recaptured depreciation—but then set the proceeds aside in after tax so it can be used to bridge in a non taxable way. I’d probably net 200K on the sale if I do it this year. If prices hold, it would be better to do it next year when the current lease is up.
It would be good to do dummy tax returns to figure out all the details since you will have high income in retirement you might not be in a lower tax bracket when you are retired. If you are in the income range where additional income causes more of your Social Security to be taxable that could put you into a surprisingly high tax bracket. Be sure to understand how Social Security is taxed since it is complex.

Great idea, thank you!

https://www.bogleheads.org/wiki/Taxatio ... y_benefits

This web site may be useful in deciding when to start Social Security.

https://opensocialsecurity.com/

When you are figuring out what to do keep in mind that the tax rates that went down a few years ago are scheduled to revert to the old higher tax rates in 2026.

Also consider how having the rental will work when you are older and may not be as financially capable. Even with a property management company you will see need to keep and eye on them and occasionally hire a new property manager.

I would really take a hard look at selling the rental and using that equity to pay down your mortgage. At least for me having a paid off house made my retirement numbers work better and allowed me to keep in a lower tax bracket since I did not need the extra income to pay a mortgage payment.

great points, thank you. I'm really leaning to selling it. When I do, I will certainly pay a big chunk of the mortgage, but will have to run numbers on all the options.
togb wrote: Sun Jul 25, 2021 5:03 pm My expenses in retirement will not change much—about $100K/year, which would be 70K after considering SS. $70K x 25 would be $1750… so that’s been my target for before tax funds.
How much of that is your mortgage payment?

Just some very wild guesses but if your mortgage payment is $15k a year then you would only need $55k in income if you paid off the mortgage. Once you are 65 your standard deduction would be a bit over $14K so you might only need $41K in taxable income. As mentioned before a big question is how your Social Security would be taxed.

I did not crunch the numbers but it would be good to do some dummy tax returns to figure out what your retirement tax bracket would be if you paid off your house.
togb wrote: Sun Jul 25, 2021 5:03 pm 5. What am I missing in my planning? I really do need to get this right. I’m single, this is all on me to get it right. I’ve wondered if I should hire someone to do an assessment and lay it all out.


One big thing that is missing is simplicity.

You know that you still have too many accounts, funds, and stock and one of the challenges of being single is you do not have a spouse to double check your financial decisions or to take over if you have a stroke or something. One early sign of Alzheimer's is making poor or reckless financial decisions and you may not have anyone who will notice if you start making poor choices.

I am about your age and I have moved most of my funds into target date funds to make it easier to manage as I age or easier for my wife, who knows less about investing, to manage if she needs to.

There are no tax issues with moving fund around in the retirement accounts so it would be really good to simplify them sooner than later.
Thanks for some great points to ponder-- and analyze. I've made a list- definitely need to check on how SS is taxed (for ease, I've assumed all of it, so anything different is a good surprise. And I'll revisit not paying off that mortgage- the actual payment is a bit less than $15K even when pay a bit extra each month. But I also have $6500 in property taxes and insurance, that will always be there.

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Eagle33
Posts: 2383
Joined: Wed Aug 30, 2017 3:20 pm

Re: Another portfolio review, as I approach retirement

Post by Eagle33 »

togb wrote: Sun Jul 25, 2021 5:03 pm 4. I have AXP stock in my rollover IRA, and understand there is a way I can withdraw it and not be taxed on the gain, since that was my employer… is this true, and if so, how do you do it?
Maybe you are referring to Net Realized Appreciation (NUA)? Rolling Over Company Stock: When It Does—and Doesn't—Make Sense I don't think it still applies to you since you already rolled over your company stock from your employer's 401k to an IRA.
ThriftyisFun
Posts: 25
Joined: Wed Feb 21, 2018 12:20 pm

Re: Another portfolio review, as I approach retirement

Post by ThriftyisFun »

A book you might find helpful to read is "The Ultimate Retirement Guide for 50+: Winning Strategies to Make Your Money Last a Lifetime" by Suze Orman.

It is excellent!

It came out early 2020 (pre-covid). I listened to the audiobook (read by the author). Suze adds extra tips and examples not included in the book. Easy and engaging to listen to, while traveling or commuting. I got the audiobook free from library but bought my own copy plus the book. Now listening to it for a second time. I hope to get a bookclub going on it.

It really got me to thinking of where to live (is my house suitable for an "older" me?), best timing for my retirement, urgency to update my estate documents and a series of other things.

Chapters include such titles as
- How to help the ones you love without hurting your retirement
- making the most of your working years
- where to live
- power moves in you 60's
- how to pay yourself in retirement (and not run out of money)
- how and where to invest
- finding the right financial advisor
- protecting yourself and those you love

Each chapter ends with a useful summary checklist.
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