No. of Recommendations: 1
"We are looking are help in a retirement investing plan.
My wife and I are both 71, no kids and no plans as of now to leave money to anyone, maybe charities a small amount at the end. We are both in fairly good shape and as others would not like to run out of money in our lifetime.

Our assets are as follows:
one bedroom coop worth $400000
cash $550000
401(for both of us) $450000
total $1,400,000 (none is invested now-0)
social security and pension $72000
Our yearly expenses are about $60000, and have medicare and supplementary health insurance. We would like to travel a lot and spend more."

I'm sure others will have more helpful information, but my first impression is that you are more in need of a spending plan than an investing plan.

"We have nothing invested as stated above, but have been doing very small stock trades. We have been in a state of analysis paralysis up to now."

Stock trading is one way to spend more money by paying a broker's commissions. I wouldn't do it, but if it floats your boat ...

"We are looking for ideas of how to invest the money, and how much we can spend per year."

How is the 401 money currently "invested"? If it is in cash/equivalents, then with your income and taxable cash cushion, you could afford to take some risk with it by putting some of it into a total stock market fund and a total international fund, if you have low cost options in the 401(s). Absent good options, you could roll it/them into IRA(s) with a discount broker or fund company where you can buy low cost funds.

You can probably expect to need you money to last another twenty years or so. If you don't mind leaving nothing behind, you can safely spend 5% of your combined million every year - on top of your current income.

"Thanks in advance for any ideas, or sources of information on the internet."

You might find some helpful advice at - a website frequented largely by advocates of low-cost broad index fund investing.

Good luck.

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