I'm 72, have a cushy amount invested and was withdrawing 4% a year. But once I pay my financial adviser's fees and California taxes that won't be enough. What's my move?
newscatcher
2023-02-02 21:30
I'm 72, have a cushy amount invested and was withdrawing 4% a year. But once I pay my financial adviser's fees and California taxes that won't be enough. What's my move?
Question: I have a comfortable balance in my investment account but have a question about only taking out 4% of my total each year (if necessary). Totaling my federal and state taxes (I live in California), and paying estimates for the next year, plus adding in my broker fees, actually totals 4% of my investment balance. Basically I feel like I'm investing to pay taxes and broker fees! I'm 72, house is paid for, and I'd like to travel, but jeez. What should I do? (Looking for a new financial adviser? You can use this tool to get matched with a financial adviser who might meet your needs.

https://www.marketwatch.com/picks/i-feel-like-im-investing-just-to-afford-taxes-and-broker-fees-im-72-have-a-cushy-amount-of-money-invested-and-was-withdrawing-4-a-year-but-once-i-pay-fees-and-california-taxes-that-wont-be-enough-should-i-ditch-my-financial-adviser-01658160670?mod=home-page&tesla=y

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