My assets are divided between two brokerage firms. I set up a monthly transfer from a taxable margin account at each brokerage to a savings account at my bank. I set up a transfer biweekly (every other Friday) from savings to checking. Sometimes I need more money from savings so do a manual transfer. I've been doing this basic approach since 2011, and while working have the paycheck deposited into one of the brokerage accounts. That paycheck goes away soon... but nothing else needs to change. Social security is years away before I plan to have that money coming in. Dividends have been my approach and now cover more than half of expenses, and because of margin the transfer will never fail unless things go badly wrong. I keep enough cash to avoid touching margin. This requires looking after. Usually selling something will refill the cash, but could also be a transfer from an IRA account. In addition I sometimes need more than the regular transfer, such as for quarterly tax payments. As long as my total out of the brokerage stays reasonable, it's all good. I think. 🤷 Pretty sure. 😁
What do you think? How will you pay yourself during retirement?
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Annuity better …some good ideas 💡
My assets are divided between two brokerage firms. I set up a monthly transfer from a taxable margin account at each brokerage to a savings account at my bank. I set up a transfer biweekly (every other Friday) from savings to checking. Sometimes I need more money from savings so do a manual transfer.
I've been doing this basic approach since 2011, and while working have the paycheck deposited into one of the brokerage accounts. That paycheck goes away soon... but nothing else needs to change. Social security is years away before I plan to have that money coming in. Dividends have been my approach and now cover more than half of expenses, and because of margin the transfer will never fail unless things go badly wrong. I keep enough cash to avoid touching margin. This requires looking after. Usually selling something will refill the cash, but could also be a transfer from an IRA account. In addition I sometimes need more than the regular transfer, such as for quarterly tax payments. As long as my total out of the brokerage stays reasonable, it's all good. I think. 🤷 Pretty sure. 😁
Or maybe the BUCKET strategy