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Hi Jimmie:

You and I are same age and in similar economic condition, except that I retired about 3 years ago. I suggest that you first read all of the thirteen steps to fooldom. I guarantee that not all of them are for you, but you won't know what parts to accept for you and what to reject untill you read them all. After you do that read as far back as you have time in the archives on retirement planing here on the Fool.

I don't know what will turn out to be best for you, but I did the folloing: In our IRA I divided 20% to stock and 80% to funds. The stock is divided among 10 companies, the Foolish 4; 2 Rule Breakers and 6 Rull Makers. The Funds are split 60% to the Total Bond Index Fund, and 40% to the S&P500 Index Fund. The various divisions are based on my particular situation and the degree of risk I can justify to myself and my wife, plus consideration of how much income we need to take out of the IRA every year. I have a goal that I never take out any more than 1/5th of the gain that I make each year, so that my IRA continues to grow. So far so good; we are living on our retirement money and some money coming from the investments.

What you do now depends on the risk you can justify to yourself and your wife. That has to be your decisions based on the study of the steps to Fooldom and study of the Retirement portfolio's companies. You may decide to drop some of Pixy's companies in favor of some of your own choosing. Avail yourself of the Gardner's books as well. They are excellent resources for how to manage you money.

I would like to say that when you take these steps, you will be able to write to us that you are no longer scared, but happily retried.

Fool on Jimmiefool

The Nerdifool
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