Hi r/PF, I'm 74 and retired and have been pretty hands-on with my investments for a while. Have been extremely conservative due to my concerns about an economic crash with all the market growth in the past 10 years. Am now looking to rebalance things in line with more traditional wisdom and would appreciate any advice on what to do with the assets mentioned below.
- GROSS INCOME: $31K social security, $22K state retirement benefits (this covers my day-to-day expenses)
- POTENTIAL INCOME: Not factoring this in now because I haven't been doing it long but I started seeing patients online in my spare time and can do $2,200/month on there. Also could get a job that will pay around $140K/year working half-time. Sometimes I feel more ambitious and consider that and other times I don't really feel like it.
- EXPENSES: About $3.5K/mo --- $1.9K/mo rent, $1K/mo insurances (long-term care, Medicare/supplement), $550 miscellaneous
- ASSETS: $367K cash, $215K equities
I don't have much in the way of specific goals, just trying to be smarter about these things. I am renting now but would maybe buy a house at some point or rent a second house in a more hospitable climate. I take a $5K-$10K trip maybe every 1-2 years. Maybe I'd like to have the maid come more often.
More details on investments below... I know there's room for improvement here, just not sure what the best thing to do is for my goals (which are not particularly aspirational) and age. I don't mind some risk since I'm not really particularly dependent on this money for living. 6-8% growth would be cool but doesn't really impact my life substantially one way or the other.
Assets Detail: (not using to supplement income other than taking RMDs)
- Cash: $367K
- Standard brokerage accounts: $111K in equities... $64K is Gold ETFs/mining, $31K XLE (energy), $16K assorted stocks
- Managed Chase brokerage at 2% ER: $71K..... $8K SPY, then a bunch of other assorted stuff
- Traditional IRA: $15K is DHI (home construction) stock, + $7.5K cash
- SEP IRA: $18K, all cash right now
Thank you, appreciate any guidance!
Submitted February 27, 2021 at 05:20PM by RetiredFinanceQstn https://ift.tt/2ZYoVJS
