Yesterday, I discussed the 4% guideline for withdrawals from a stock portfolio in retirement. I halted working and have been living on my dividend income from 1999. When coming up with my financial plans for using my portfolio to live off of, I started off using the 8%, 4% rule. The 8%, 4% guidelines means that you should depend on making 8% a year on your investments and you should depend on spending 4% a 12 months from your investments.
However, I changed my brain in 2001 after having my collection ravaged by the stock crash. In those days I thought it might be best to change my programs to only remove money add up to my income. I realized that would leave a property but I did so not want to be old and have no money.
I did not plan to work again and I had not been at retirement age, therefore I thought this might be best. My plan of attack was to do some switching to stocks with higher dividends, control increases to my budget let dividend growth stocks do the plain thing they are doing best, that is grow dividends. Dividend growth stocks tend to growth dividends overall at a faster rate than inflation. By 2006, I had been taking out less money from my collection than I used to be making slightly. I am taking money from my RRSP accounts and in these accounts I have moved to raised dividends by cashing in stocks which have the lowest relative yield for money to be used in withdrawals.
I went from using 140% of the income to using 85% of my income in 2014. I expect 2015 to be the same. However, after I turn 71 the total amount I need to take from my RRSP accounts changed RRIF accounts will be high as will be my fees. To ensure I have enough cash for withdrawals will cost me income as rates of interest are low.
So I expect that in the future my income will go down. On my other blog I am today authoring Thomson Reuters Corp. This blog is meant for educational purposes only and is never to provide investment advice. Before making any investment decision, you should always do your own research or seek advice from an investment professional. I do research for my own edification and I am willing to share. I write what I think and I might or might not be correct. See my site for an index to these blog entries as well as for stocks followed. Follow me on Twitter.
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- 75Ibid., p. 24
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