I'm new to the forum and looking for some friendly advice. Mom, 84 years old, has a portfolio made up of Vanguard funds. She is leaving her apartment and moving into an Independent Living Facility. From what I calculate she will need to take about 5% of her Vanguard assets annually to take care of her month to month needs (that's in addition to her SS and a small pension). She's in relatively good health and we hope to have her around for a long time. Genetics are great. Looking to generate more income. The small equity holdings are basically leftovers. Over the last 6 or 7 years we have reduced those positions.
Any Ideas would be greatly appreciated. Thank you!
These are her current holdings in a taxable account.
VFSTX-Short Term Investment Grade 41%
Prime Money Market 30%
VFIJX- GNMA 20%
VHCOX- Capital Opportunity 3%
VWELX- Wellington 2%
VPCCX- Primecap Core 1%
VGHCX- Healthcare 1%
VDIGX- Dividend Growth 1%
VASVX- Selected Value 1%
I was reading a Forbes article about Dan Wiener's take on "A better retirement income fund" vs. "Vanguards Retirement Income Fund".
He has the following. Any thought on this? I'm open to any ideas.
Infaltion protected securities- 20%
Short Term Investment Grade- 5%
Global Equity- 10%
Growth and Income- 15%
Convertible Securities- 5%
Here's a link to the Wienie article if anyone is interested. (I don't think I did the link correctly, sorry)http://www.forbes.com/sites/investor/2012/05/08/vanguard-investors-building-a-better-target-retirement-income-fund/