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Old 04-28-2016, 04:56 PM
 
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Also @Robyn55- when you said I would have been better off maxing out my savings in my 50s rather than figuring out the fastest way to spend the little I had... is 2M+ in assets at 50 so little that I cannot relax and allow myself to just spend 12% of it over the next 10 years??? How much should I have saved? 20M? 200M?
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Old 04-28-2016, 05:51 PM
 
Location: Prescott AZ
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Just because other people have opinions that do not agree with yours, does not make them all "stupid".
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Old 04-28-2016, 06:16 PM
 
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???
Who called whom stupid? I did not think anyone was stupid, was just genuinely confused by Robyn55 implying that 2M+ is very little to retire on, and I should try to maximize further savings rather than spend 12% of my assets in my 50s (I mean, I know that 2M is not a lot, but combined with soc security, it seems it should sustain a modest lifestyle for 40 years without difficulty. Or no? Is there something I don't know about it?)
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Old 04-28-2016, 08:09 PM
 
Location: Prescott AZ
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elnrgby: I sent you a DM
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Old 04-28-2016, 09:24 PM
JRR
 
Location: Middle Tennessee
3,679 posts, read 2,227,855 times
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Quote:
Originally Posted by elnrgby View Post
???
Who called whom stupid? I did not think anyone was stupid, was just genuinely confused by Robyn55 implying that 2M+ is very little to retire on, and I should try to maximize further savings rather than spend 12% of my assets in my 50s (I mean, I know that 2M is not a lot, but combined with soc security, it seems it should sustain a modest lifestyle for 40 years without difficulty. Or no? Is there something I don't know about it?)
If $2M is very little to retire on, I guess that we are in deep trouble as we are retired and do not have close to that figure.
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Old 04-29-2016, 06:24 AM
 
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@PhxBarb - I found the dm, thank you. When you look at the right upper corner of each post on this forum, there is an icon of a little triangular emergency safety warning traffic sign. If you click on that, you can report to the forum admin any harassing posts or generally anybody who can't behave. Hope it helps.
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Old 04-29-2016, 07:40 AM
 
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April issue of AAII journal--maybe at some local libraries and think you can sign up at site for trial membership--has interview with Dr. Moshe Milevsky, whose expertise is mathematical financial economics...who has written several books on various financial areas...
He advocates that adding an annuity portion to a retirement portfolio can help ensure more stability and longevity of portfolio...

Has written several books--1 being "Pensionize Your Nest Egg" which I am assuming is about using annuities...

He also says that the value and role of an annuity varies depending on the individual...
Those whose assets lie mainly in SS benefits or company pensions (Federal employees maybe) already are annuitizied; those with super portfolio or resources --he uses Gates and Buffett (which seems a choice outside realm of most people) don't need to worry.

But if only someone with that level of wealth doesn't benefit from annuities, than it seems the implication is that anyone with a lesser portfolio better get some---and that likely includes more than 50% of the investing public....

He says that he works backward from most financial planners...
He considers the income available from SS and any other pensions...then he ensures the majority of needed income comes from some type of annuity product...
He doesn't qualify whether fixed vs variable or a mix or what timing strategy to consider...
Just the idea that adding some annuity factor to a portfolio is better value than just buying bonds for stability or using a very aggressive (more equity) allocation strategy...

He also doesn't refer to any tax issues that might come from taking such an investment strategy...
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Old 04-29-2016, 07:52 AM
 
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PS--so much of this issue revolves around personalities and risk assessment and personal opinion...
It does no good to castigate someone because that person has different risk profile, has made choices, and is happy with them...

There is no way to prove that any particular POV is right at this stage---and in 15-20 yrs I doubt that the same people will still be posting on this forum to say "I told you so" or to read it...
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Old 04-29-2016, 07:52 AM
 
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i consider Dr. Moshe Milevsky the most knowledgeable authority on annuity's today . his study's and books can make your hair hurt from the details and calculations but he is brilliant on the subject .

his paper , Retirement Ruin and the Sequencing of Returns , turned the financial planning community upside down .
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Old 04-29-2016, 07:54 AM
 
30,123 posts, read 47,353,596 times
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I am checking Amazon for that book...or maybe the library

I have discovered I am much more risk-averse than I anticipated in retirement...
I did see the value in more equities vs bonds for longevity growth but that was when the market including bonds produced a more stable return...
Now I am wishing we had taken out annuity in early 2000s when my husband's income started to grow enough to make funds available beside his 401k and paying for kids' college.
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