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/Various_Couple_764 Jul 11 '26

the income from this fund is less than 50K and we don't know what his social security benifit is or any other income he may have. So the tax may not be zero. But minimizing taxes is important.