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re: Advice to my Dad
Posted on 10/5/22 at 2:09 pm to Texas Tea 123
Posted on 10/5/22 at 2:09 pm to Texas Tea 123
Agreed Texas Tea. Should've been on him about this in early 2022ish.
But I don't know what funds they are in and the volatility of those and attached companies. Ya'll are right though it's too late to do a lot since the 20-30% hit or so has happened.
But I don't know what funds they are in and the volatility of those and attached companies. Ya'll are right though it's too late to do a lot since the 20-30% hit or so has happened.
0
Posted on 10/5/22 at 2:43 pm to Upperdecker
quote:If a 73 year old has $3MM of assets and lives on $50k/year, he should be investing his assets based on his beneficiaries' time horizon(s). He will likely never run out of money whether he's diversified appropriately in 100% stocks or 100% bonds in that scenario.
A 73 year old that’s retired should be at a lower risk level than 70% stocks
Different story if the 73 year old has $500k and is spending $50k/year.
As slackster said, all depends on his withdrawal as a percentage of his total portfolio.
This post was edited on 10/5/22 at 2:47 pm
Posted on 10/5/22 at 3:58 pm to Upperdecker
quote:
73 year old that’s retired should be at a lower risk level than 70% stocks
Why, because that's the boiler plate advice? If he is living off of pension and SS and not even spending RMD, risk tolerance could be extremely high. A conservative allocation is suitable for those that need to preserve wealth to live off of. Maybe he wants to maximize growth for next generation and is comfortable being more risk on. Another way to look at it is pension and SS act like the conservative income generating low risk portion of a portfolio similar to an annuity. Thus, actual allocation is muchmore conservative than 70/30.
Posted on 10/5/22 at 4:26 pm to jp4lsu
Dang same
It’s not worth it to try to explain, the boomers just get mad
Don’t even try to explain how we’re all gonna get put into the fema camp
It’s not worth it to try to explain, the boomers just get mad
Don’t even try to explain how we’re all gonna get put into the fema camp
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