### WordPress - Web publishing software
Copyright 2011-2019 by the contributors
This program is free software; you can redistribute it and/or modify
it under the terms of the GNU General Public License as published by
the Free Software Foundation; either version 2 of the License, or
(at your option) any later version.
This program is distributed in the hope that it will be useful,
but WITHOUT ANY WARRANTY; without even the implied warranty of
MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the
GNU General Public License for more details.
You should have received a copy of the GNU General Public License
along with this program; if not, write to the Free Software
Foundation, Inc., 51 Franklin St, Fifth Floor, Boston, MA 02110-1301 USA
This program incorporates work covered by the following copyright and
permission notices:
b2 is (c) 2001, 2002 Michel Valdrighi - m@tidakada.com -
http://tidakada.com
Wherever third party code has been used, credit has been given in the code's
comments.
b2 is released under the GPL
and
WordPress - Web publishing software
Copyright 2003-2010 by the contributors
WordPress is released under the GPL
---
### GNU GENERAL PUBLIC LICENSE
Version 2, June 1991
Copyright (C) 1989, 1991 Free Software Foundation, Inc.
51 Franklin Street, Fifth Floor, Boston, MA 02110-1301, USA
Everyone is permitted to copy and distribute verbatim copies
of this license document, but changing it is not allowed.
### Preamble
The licenses for most software are designed to take away your freedom
to share and change it. By contrast, the GNU General Public License is
intended to guarantee your freedom to share and change free
software--to make sure the software is free for all its users. This
General Public License applies to most of the Free Software
Foundation's software and to any other program whose authors commit to
using it. (Some other Free Software Foundation software is covered by
the GNU Lesser General Public License instead.) You can apply it to
your programs, too.
When we speak of free software, we are referring to freedom, not
price. Our General Public Licenses are designed to make sure that you
have the freedom to distribute copies of free software (and charge for
this service if you wish), that you receive source code or can get it
if you want it, that you can change the software or use pieces of it
in new free programs; and that you know you can do these things.
To protect your rights, we need to make restrictions that forbid
anyone to deny you these rights or to ask you to surrender the rights.
These restrictions translate to certain responsibilities for you if
you distribute copies of the software, or if you modify it.
For example, if you distribute copies of such a program, whether
gratis or for a fee, you must give the recipients all the rights that
you have. You must make sure that they, too, receive or can get the
source code. And you must show them these terms so they know their
rights.
We protect your rights with two steps: (1) copyright the software, and
(2) offer you this license which gives you legal permission to copy,
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Also, for each author's protection and ours, we want to make certain
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Finally, any free program is threatened constantly by software
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program proprietary. To prevent this, we have made it clear that any
patent must be licensed for everyone's free use or not licensed at
all.
The precise terms and conditions for copying, distribution and
modification follow.
### TERMS AND CONDITIONS FOR COPYING, DISTRIBUTION AND MODIFICATION
**0.** This License applies to any program or other work which
contains a notice placed by the copyright holder saying it may be
distributed under the terms of this General Public License. The
"Program", below, refers to any such program or work, and a "work
based on the Program" means either the Program or any derivative work
under copyright law: that is to say, a work containing the Program or
a portion of it, either verbatim or with modifications and/or
translated into another language. (Hereinafter, translation is
included without limitation in the term "modification".) Each licensee
is addressed as "you".
Activities other than copying, distribution and modification are not
covered by this License; they are outside its scope. The act of
running the Program is not restricted, and the output from the Program
is covered only if its contents constitute a work based on the Program
(independent of having been made by running the Program). Whether that
is true depends on what the Program does.
**1.** You may copy and distribute verbatim copies of the Program's
source code as you receive it, in any medium, provided that you
conspicuously and appropriately publish on each copy an appropriate
copyright notice and disclaimer of warranty; keep intact all the
notices that refer to this License and to the absence of any warranty;
and give any other recipients of the Program a copy of this License
along with the Program.
You may charge a fee for the physical act of transferring a copy, and
you may at your option offer warranty protection in exchange for a
fee.
**2.** You may modify your copy or copies of the Program or any
portion of it, thus forming a work based on the Program, and copy and
distribute such modifications or work under the terms of Section 1
above, provided that you also meet all of these conditions:
**a)** You must cause the modified files to carry prominent notices
stating that you changed the files and the date of any change.
**b)** You must cause any work that you distribute or publish, that in
whole or in part contains or is derived from the Program or any part
thereof, to be licensed as a whole at no charge to all third parties
under the terms of this License.
**c)** If the modified program normally reads commands interactively
when run, you must cause it, when started running for such interactive
use in the most ordinary way, to print or display an announcement
including an appropriate copyright notice and a notice that there is
no warranty (or else, saying that you provide a warranty) and that
users may redistribute the program under these conditions, and telling
the user how to view a copy of this License. (Exception: if the
Program itself is interactive but does not normally print such an
announcement, your work based on the Program is not required to print
an announcement.)
These requirements apply to the modified work as a whole. If
identifiable sections of that work are not derived from the Program,
and can be reasonably considered independent and separate works in
themselves, then this License, and its terms, do not apply to those
sections when you distribute them as separate works. But when you
distribute the same sections as part of a whole which is a work based
on the Program, the distribution of the whole must be on the terms of
this License, whose permissions for other licensees extend to the
entire whole, and thus to each and every part regardless of who wrote
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Thus, it is not the intent of this section to claim rights or contest
your rights to work written entirely by you; rather, the intent is to
exercise the right to control the distribution of derivative or
collective works based on the Program.
In addition, mere aggregation of another work not based on the Program
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**3.** You may copy and distribute the Program (or a work based on it,
under Section 2) in object code or executable form under the terms of
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**a)** Accompany it with the complete corresponding machine-readable
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and 2 above on a medium customarily used for software interchange; or,
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years, to give any third party, for a charge no more than your cost of
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**c)** Accompany it with the information you received as to the offer
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The source code for a work means the preferred form of the work for
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If distribution of executable or object code is made by offering
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It is not the purpose of this section to induce you to infringe any
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to distribute software through any other system and a licensee cannot
impose that choice.
This section is intended to make thoroughly clear what is believed to
be a consequence of the rest of this License.
**8.** If the distribution and/or use of the Program is restricted in
certain countries either by patents or by copyrighted interfaces, the
original copyright holder who places the Program under this License
may add an explicit geographical distribution limitation excluding
those countries, so that distribution is permitted only in or among
countries not thus excluded. In such case, this License incorporates
the limitation as if written in the body of this License.
**9.** The Free Software Foundation may publish revised and/or new
versions of the General Public License from time to time. Such new
versions will be similar in spirit to the present version, but may
differ in detail to address new problems or concerns.
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specifies a version number of this License which applies to it and
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published by the Free Software Foundation.
**10.** If you wish to incorporate parts of the Program into other
free programs whose distribution conditions are different, write to
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we sometimes make exceptions for this. Our decision will be guided by
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free software and of promoting the sharing and reuse of software
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**NO WARRANTY**
**11.** BECAUSE THE PROGRAM IS LICENSED FREE OF CHARGE, THERE IS NO
WARRANTY FOR THE PROGRAM, TO THE EXTENT PERMITTED BY APPLICABLE LAW.
EXCEPT WHEN OTHERWISE STATED IN WRITING THE COPYRIGHT HOLDERS AND/OR
OTHER PARTIES PROVIDE THE PROGRAM "AS IS" WITHOUT WARRANTY OF ANY
KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE
IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR
PURPOSE. THE ENTIRE RISK AS TO THE QUALITY AND PERFORMANCE OF THE
PROGRAM IS WITH YOU. SHOULD THE PROGRAM PROVE DEFECTIVE, YOU ASSUME
THE COST OF ALL NECESSARY SERVICING, REPAIR OR CORRECTION.
**12.** IN NO EVENT UNLESS REQUIRED BY APPLICABLE LAW OR AGREED TO IN
WRITING WILL ANY COPYRIGHT HOLDER, OR ANY OTHER PARTY WHO MAY MODIFY
AND/OR REDISTRIBUTE THE PROGRAM AS PERMITTED ABOVE, BE LIABLE TO YOU
FOR DAMAGES, INCLUDING ANY GENERAL, SPECIAL, INCIDENTAL OR
CONSEQUENTIAL DAMAGES ARISING OUT OF THE USE OR INABILITY TO USE THE
PROGRAM (INCLUDING BUT NOT LIMITED TO LOSS OF DATA OR DATA BEING
RENDERED INACCURATE OR LOSSES SUSTAINED BY YOU OR THIRD PARTIES OR A
FAILURE OF THE PROGRAM TO OPERATE WITH ANY OTHER PROGRAMS), EVEN IF
SUCH HOLDER OR OTHER PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH
DAMAGES.
### END OF TERMS AND CONDITIONS
### How to Apply These Terms to Your New Programs
If you develop a new program, and you want it to be of the greatest
possible use to the public, the best way to achieve this is to make it
free software which everyone can redistribute and change under these
terms.
To do so, attach the following notices to the program. It is safest to
attach them to the start of each source file to most effectively
convey the exclusion of warranty; and each file should have at least
the "copyright" line and a pointer to where the full notice is found.
one line to give the program's name and an idea of what it does.
Copyright (C) yyyy name of author
This program is free software; you can redistribute it and/or
modify it under the terms of the GNU General Public License
as published by the Free Software Foundation; either version 2
of the License, or (at your option) any later version.
This program is distributed in the hope that it will be useful,
but WITHOUT ANY WARRANTY; without even the implied warranty of
MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the
GNU General Public License for more details.
You should have received a copy of the GNU General Public License
along with this program; if not, write to the Free Software
Foundation, Inc., 51 Franklin Street, Fifth Floor, Boston, MA 02110-1301, USA.
Also add information on how to contact you by electronic and paper
mail.
If the program is interactive, make it output a short notice like this
when it starts in an interactive mode:
Gnomovision version 69, Copyright (C) year name of author
Gnomovision comes with ABSOLUTELY NO WARRANTY; for details
type `show w'. This is free software, and you are welcome
to redistribute it under certain conditions; type `show c'
for details.
The hypothetical commands \`show w' and \`show c' should show the
appropriate parts of the General Public License. Of course, the
commands you use may be called something other than \`show w' and
\`show c'; they could even be mouse-clicks or menu items--whatever
suits your program.
You should also get your employer (if you work as a programmer) or
your school, if any, to sign a "copyright disclaimer" for the program,
if necessary. Here is a sample; alter the names:
Yoyodyne, Inc., hereby disclaims all copyright
interest in the program `Gnomovision'
(which makes passes at compilers) written
by James Hacker.
signature of Ty Coon, 1 April 1989
Ty Coon, President of Vice
This General Public License does not permit incorporating your program
into proprietary programs. If your program is a subroutine library,
you may consider it more useful to permit linking proprietary
applications with the library. If this is what you want to do, use the
[GNU Lesser General Public
License](http://www.gnu.org/licenses/lgpl.html) instead of this
License.
I'm 70 With $1 Million in an IRA. How Do I Make Sure This Money Lasts the Rest of My Life? - sinth.info
Compared to many retirees, you are in an enviable position with $1 million socked away in your IRA at 70. Still, living a secure, comfortable retirement that can last two decades or more takes planning. Making sure your nest egg lasts requires assessing your personal situation, balancing risk, securing reliable income streams and understanding how required minimum distributions affect your finances.
A financial advisor can help analyze your income needs in retirement and build plans to make your savings last.
Basics of Making Savings Last
If your savings are going to provide lifetime financial security you have to pay attention to the basics. The keys to making your $1 million IRA last for the rest of your life are:
Spend conservatively from your IRA. A 4% annual withdrawal rate can improve chances your savings won’t run out.
Invest appropriately to generate solid returns while controlling risk. Consider an asset allocation of 60% stocks and 40% bonds utilizing low-fee index funds rather than shooting for maximum possible returns. This will help minimize the risk involved with a market downturn.
Exploit other income sources first before tapping your IRA. Using Social Security benefits, earnings from part-time work and annuity payments all offer alternatives to spending your savings.
What’s Your Situation?
Your personal financial situation and retirement lifestyle wishes will determine the most appropriate ways to tap your $1 million IRA. To fill in the blanks of your future retirement, ask yourself the following questions:
How much will you budget for basic living expenses?
What large purchases, vacations or indulgences do you desire?
Do you have health issues requiring significant care costs?
What are your expected income sources?
How will taxes affect your income in retirement?
What is your best estimate for returns on investments in your IRA?
Answers to questions like these help set your withdrawal rate, asset allocation, insurance needs and estate plans. Though $1 million sounds like a lot, it may not fund an extravagant, globe-trotting lifestyle. Create a realistic budget accounting for healthcare, taxes and inflation.
If your IRA must cover over half your costs, a more modest standard of living or delaying retirement may be prudent.
Retirement at age 70 can last for twenty or more years. Uncertainty is inevitable when you are contemplating such lengthy time frames. Your retirement plan should address the following risks:
Investment risk is the hazard of portfolio losses from causes such as market volatility and rising interest rates. Mitigate investment risk by holding a mix of stocks for growth and bonds and cash for stability.
Longevity risk means outliving your savings. Accept some market risk – with a 20- to 30-year timeframe, stocks should appreciate over time. Within your stock allocation, diversify globally across capitalizations, sectors and regions. Use low-cost, tax-efficient index mutual funds or ETFs. Also consider an immediate annuity, which offers guaranteed lifetime income. Address longevity risk by being willing to adjust your withdrawals downward during market swoons.
Health costs can also be significant in retirement. Understand your Medicare benefits and shop for supplemental Medigap coverage as needed. Don’t neglect to consider possible long-term care insurance needs. Secure insurance to cover risks that may require tapping your IRA unexpectedly. Review your property and casualty and liability. You may be able to drop disability insurance.
Required minimum distributions (RMDs) dictate that you withdraw funds from tax-deferred retirement accounts annually starting at age 73. In your situation, RMDs will likely total just over $40,000 per year.
Failure to take RMDs triggers 50% penalty taxes, so don’t neglect this. And RMDs are taxed as ordinary income, so plan for the tax hit when you do take them. For example, a 4% RMD withdrawal on a $1 million IRA could create a roughly $8,800 federal tax liability for someone in the 22% marginal tax bracket.
Using Trusts for Retirement Planning
Trusts are widely used in estate planning to help manage inheritance taxes and control distributions to heirs. They can also be useful for protecting retirement savings.
Retirement trusts are specifically designed to receive retirement account assets while maintaining tax-deferred status, protecting against legal liability and stretching withdrawals over time. Charitable remainder trusts employ retirement savings for income generation now while distributing principal to charity later.
Trusts require expertise to establish properly. But these instruments can structure retirement assets to last through your golden years while also planning your legacy. If you’re interested in setting up a trust, consider talking to a financial advisor.
Bottom Line
With prudent management, a $1-million IRA at age 70 can readily fund two decades or more of retirement. Using realistic earnings projections and conscious spending behaviors increases chances of success. Assess your personal situation, temper withdrawal expectations, control portfolio risk and utilize insured income streams before tapping your IRA. Account for taxes and RMDs in withdrawal planning. Be ready to adjust spending downward when markets decline. Trusts may help ease tax burdens for heirs while controlling distributions. With reasonable assumptions and balanced risk management, your IRA can provide lasting retirement security.
Tips
Speaking with a financial advisor now can help you create workable expense and income plans and structure retirement withdrawals to make your savings last. SmartAsset’s free tool matches you with up to three financial advisors in your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Check out SmartAsset’s Asset Allocation Calculator to get an idea of how different portfolios perform over time.