Warm greetings to everyone. Short time lurker, first time poster.
I am seeking the collective wisdom of the forum regarding the structure of my portfolio heading into retirement. I recently retired 4 months ago. I have three children at home (15,9,7) and estimate my annual income needs to be ~$150K/year until the kids have left home.
On to the specifics:
Age 54, married, wife is 47.
Live in Washington state.
Debts- none. Home is paid off.
Assets are approximately $7 million exclusive of home value. Home is worth ~$500K.
Assets are currently deployed as such: 66% Bonds, 30% Cash, 4% REITs. I always considered my employment income as the "risky" equity-like portion of my financial puzzle when I was working- now it is gone.
Bonds are 75% in intermediate term muni funds (taxable) and 25% in TIPS fund (tax deferred).
Overall, 70% of my assets are in taxable accounts and 30% in tax-deferred accounts.
I am looking for the expert advice of the forum regarding positioning my assets for income, inflation protection, growth, etc. Basically, the whole enchilada.
Thank you so much in advance.