There are few more things to consider, you probably though about them already, but I put them here for others to see and possibly add their comments.
50k needed for comfi life style to be covered by dividends.
Dividends are never guaranteed the way term deposit or bond is. Companies can and do reduce their dividend payouts and sometimes stop paying divi altogether. I have very sad looking parcel of Qantas shares. Capital halved and no divi last 2 years. They are not in my SMSF, I have kicked them out of my TTRP fund and since I bought those cheaper then those I hold as an individual no real harm to my SMSF. The bundle I am holding as a person are being supported by my work income, it certainly had postponed my planed retirement day. I am still working and hoping for them to go up some so I can pay of my mortgage where the funds to buy these shares came from.
I do not subscribe to the idea of having 2 years worth of planed pension payout in the bank.
In your case, being 55 , you are required to take 4% of your total out as a pension. OK it had been reduced to 2% going to 3% and back to 4% year after. If the inflation is 4% or more and you have to take and spend 4% that adds up to 8% but the best interest you get is 6.5%, so you are going backwards and your only hope for happy life is to die before the money runs out. Crazy, I know.
So I try try to make about 10% or more overall and that puts me in the riskier assets.
My idea is to put about 80% of total funds in blue chips with good dividends, banks, Telstra, property trusts, and 20 percent I try to double or at least make 50% on risky investment or another, hot shot penny stock, ETO's, stuff like that,
So far so good and if I do not succeed one year, the other years should make up for it,meanwhile I have some excitement in my life. I love stock market, specially when it is rising. I have been around long time and I know it goes down as well.
