Engineer Targets $5,800 Monthly From $1.1 Million Portfolio Until 67

2 articles · Updated · 24/7 Wall St. · May 22

$69,600 a year is the portfolio’s initial target for a 62-year-old retiree delaying Social Security to 67, requiring a 6.33% yield from a $1.1 million account before benefits begin.
A sample allocation aims to clear that hurdle with about $72,490 in annual income, led by JEPQ at 8.1%, PFFA at 8.7% and HYG at 7.0%, while SCHD and VNQ add growth and diversification.
SCHD’s role is long-term income growth rather than maximum current payout: the fund yields about 3.6%, charges 0.06%, and has delivered a 238% total return over the past decade.
At 67, roughly $2,400 a month in Social Security cuts the portfolio’s required contribution to about $40,800 a year; on a projected $1.15 million balance, that lowers the needed yield to 3.71%.
The strategy then shifts toward durability—raising SCHD and VNQ to 25% each—and the report urges retirees to verify SSA benefits, model Roth conversions in ages 62-66, and compare total return, not just yield.

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