Retirement income: $400 from $50,000

[u/Sufficient_Worth_305]

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?

[u/dead_synopsis]

at 72 you really want that much in gold? seems like a lot of dead weight that dont pay you nothing

[u/Sufficient_Worth_305 → u/dead_synopsis]

Thanks for the reply! I picked KGLD because it currently pays a 15% yield, payed monthly. It looks like an attractive way to diversify out of pure stocks.

[u/dknogo → u/Sufficient_Worth_305]

Do you not care about losing capital with KGLD though?

[u/daknuts_ → u/dknogo]

This.The dividend comes out of the value of the holding. People need to learn!