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I am 65, married, retired, and living in Canada and have $2M in retirement savings. I am trying to decide among the following retirement options.
I am 65, married, retired, and living in Canada and have $2M in retirement savings. I am trying to decide among the following retirement options.
- Purchasing a 25-year annuity from an insurance company.
- Investing in a managed bond mutual fund that only buys high grade bonds. I would live off the interest payments and/or sell bonds as needed to live.
- Investing in a managed ETF that invests only in Canadian mining companies. I would live off the dividends and/or sell ETFs as needed to live.
- Purchasing US denominated bonds issued by the US Government. I would live off the interest payments and/or sell bonds as needed to live.
- Regularly trading stocks based on information provided by my investment banker friend who shares information on upcoming mergers, acquisitions, and refinancing before it is disclosed to the public. I would live off the dividends and/or sell shares as needed to live.
- Regularly trading stocks based on information I find on the internet. I would live off the dividends and/or sell shares as needed to live.
- Putting the names of 100 stocks in a hat and then have my pet chimpanzee pick 30 from the hat and investing in those shares. I would generally hold these stocks until retirement, and I would live off the dividends but would sell shares as needed to live.
Assuming you are a believer in the efficient market hypothesis, please provide me some information and pros and cons on each of the above options. This should be a paragraph or so for each option.
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