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What is the best way to invest $200,000 at 75 years old to get back income of $1,500 per month?

I am a 75-year-old male senior citizen with $200,000 in savings. What is the best way to invest this money to get back income of $1,500 per month?

Investing
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October 2018

$1,500 per month is an annual rate of return of 9% on your $200,000 account.  That kind of return is not available without taking risk.  it's not impossible -- a basket of REITs, perhaps -- but they could decline in value and dividends are never 100% guaranteed.  Please consult an advisor.

On the other hand, you could invest the money at about 6% and withdraw $1,500 per month knowing you were slowly depleting your principal.  You could consider this if you had other savings.  Just keep in mind that you really don't want to run out of money, to outlive your savings.  I always tell investors to plan on living to be 100, even if you don't think you will.

October 2018
October 2018
October 2018
October 2018