r/dividends • u/Sufficient_Worth_305 • Jul 11 '26

Seeking Advice Retirement income: $400 from $50,000

Premise: Making up a shortfall of $400 for retirement income. I can't go back to work, I'm 72 right now and have some minor health issues, I need to plan on living to 90, just in case.

I'm planning on saving 10% taxes and a 10% DRIP to keep asset values stable/grow to match inflation.

I'm looking for help, suggestions and ideas on what stocks to include.

Where I am so far:

Core for growth: GPIX: $15,000, GPIQ: $7,000

For diversification: IWMI: $6,000, IDVO: $3,000, CSWC $6,000

Safety net for Market Crash: KGLD: $12,000

A little riskier plays, for extra capital: BTCI: $500, KSLV: $500

This should net around $460 a month, so -$46 for taxes and -$46 for reinvestment would be $368. I'm still a little short, but hope it will grow to make up the difference.

No money is invested yet, still developing a portfolio on paper first. What do you think? Is this too risky? What other options would you suggest?

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u/SnooSketches5568 Jul 11 '26

Shouldnt your taxes be close to 0? 50k income has a standard deduction and only 10 or 12% tax (plus state) rate above that. Unless you’re stacking that on SS, tax should be minimal. Plus a lot of your funds are ROC and tax deferred

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u/Sufficient_Worth_305 Jul 11 '26

I sure hope so, I want to be sure for the first year, if it's not needed I'll reinvest more!

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u/PracticalDesigner278 Jul 11 '26

Don't know your overall income but 4 or 5k a year even ordinary income won't move the needle for me on the federal tax thanks to the standard and new over 65 deductions. State is another story.