What would you do with ¥7,000,000 at age 67?

[RetireJapan]

How about working out a schedule for how much he will have access to per year, and put the rest in time-deposit accounts? For example, if he decides 500,000 a year is reasonable (giving him 14 years of spending) he could leave 500,000 in his account and put the rest in a 1-year deposit account. Then repeat each year going forward...

[MyTime]

^^^ Thanks RJ--I think that is probably the best solution. Certainly the least risky!
I wonder if there are such time deposit accounts in Japan. I'll look into it.

Thanks again all who chipped in!

[RetireJapan]

Very common. Look for 定期預金.

Here is the JP Bank version: https://www.jp-bank.japanpost.jp/kojin/ ... teiki.html

[MyTime]

Cheers RJ!

[Bitey]

How about working out a schedule for how much he will have access to per year, and put the rest in time-deposit accounts? For example, if he decides 500,000 a year is reasonable (giving him 14 years of spending) he could leave 500,000 in his account and put the rest in a 1-year deposit account. Then repeat each year going forward...

If he wants to really lock it in, somewhat annuity-style, he could do the first 500k in his account as you say, but then instead of the rest in a single-year teiki that needs to be renewed, he could put 500k in a 1-year, another 500k in a 2-year, and so on until it's all allocated, and set them to not roll over. That way he gets 500k in his account automatically every year with no further action.

[MyTime]

^^^ another good suggestion--thanks Bitey!