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I'm married, 64 y/o, semi-retired and will be fully retired on June 30, 2014. By that time, I will have approx $950K in a TIAA (100 percent Treasuries) account. We have no debt -- nada -- and another $800K in a Schwab account: a mix of stocks, a couple of T-bonds, bond ETFs (TIPs, munis, Schwab SCHZ aggregate US bond fund), and too much cash. And approx $100K in the credit union.

I feel very blessed by all this (having started from zero). But I am also feeling more than a little daunted by what to do now. I plan to talk with the TIAA-CREF advisor and with my Schwab guy. But I am reaching out to you bond folks for your advice so that I have at least half a clue when I go to talk with them.

I am (probably excessively) conservative about money, having grown up poor and having fended for myself for a good part of my life. A lot of the Schwab cash was in CDs, purchased in those bygone days when one could actually get 5 percent or so on them. But those are now all history, and the cash just sits there, earning 0.1 percent or whatever.

The idea of a TIAA annuity that pays out, like 3 percent/year, has little appeal to me, although I suppose that some piece of the $950K could go to that.

Grateful for any advice,
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