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I will fully retire July 1, 2009.

Congratulations on your pending retirement.

I've done well enough in the market that I have over $700,000 placed in my IRA totally invested in closed-end income funds. Basically all fixed income of various varieties yielding 8.00 percent plus. Based on invested dollars not what the funds sell for at presant. The return to me is $48,000. This will, by my account, over time as interest rates settle down slowly reduce itself as far as total income. With this of course is S.S. which I'm told will be just under/over $19,500 when I apply for it in 2009. For a total of $67,500 before taxes. After taxes, I guess net income to be $53,000 to $54,000 a year.This is without touching principal. My account will be set up so I recieve $4500 on the second day of each month. Well above my needs. Also, I am not really inclined to leave a large or small estate. I hope to die spending my last dollar in 25 years. For this reason and with what I outlined wouldn't you agree I don't need growth stocks or even income stocks anymore? If someone has a thought on this or a better way to accomplish what I'm doing, please, your advise would be welcome.

The safety of the closed end funds??

You might be calculating based on what you think is a safe yield, but is it really safe? What happens if the fund reduces the dividend? What
happens when this fund decides to pay some or most of the dividend out of capital? What happens when you have an emergency and may need to draw on the principal? Cost-of-living adjustments? higher health care costs, etc. over time?
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