Hi all, I am new to this forum, though I have been retired a year now. I retired on an Early Out from the federal gov. My husband is currently working as an auto tech but I would like it if he could slow down. And now there are several things going on that have changed our circumstances - I guess for the better.
I have inherited a share of my step father's investment portfolio, among other things. The portfolio fund performed exceedingly well, almost a 30% return last year. The balance, my share, is over $70K. We have a 15 yr note on our house at 4.25% with payments of $460. That is the only mortgage we have and basically the only debt. The balance on that is $60K. My pension is not big at this time, and I have not touched my federal 401K yet. My pension is $2100/mo. I am 57. Under the terms of my early out, I can withdraw or take payments from my 401K without penalty at any time. I haven't started taking anything from it yet and need to make some changes in it's fund allocations...but that's not my current problem.
My question is... is it possible that we could plan that my inherited investment fund would pay the $460 paments on that note from the dividends? I know it's not going to always earn any 30% return but realistically could one expect it would at least cover that, on average? I'm not terribly concerned with building principle as I also have other long term assets.
I don't even know if this is reasonable to expect but I wanted to ask. I have lots of other decisions to make, this is just one of them. Some may say this is lucky, but it's just been giving me a headache...
Thanks in advance for any input or ideas.