In two years I will be retiring at age 59 1/2 with estimated resources
of $1.2 million ($600,000 from 401k and $500,000 from a lump sum
pension fund payout). My plan is to withdraw $80,000 per year to
maintain my current life style with an annual adjustment for increases
in the cost of living. Since my current 401k plan is very limited in
its investment options, I'd like to do my own investing of $1.2
million but I'm uncertain about the retrictions that would apply. How
feasible, legal, and applicable is it for me to set up a retirement
account, with my own choice of stocks, mutual funds, etc., that is
sheltered from taxes (similar to an IRA or 401k plan) until I make the
yearly withdrawal for my living expenses?

Thanks.