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Old 06-27-2019, 06:21 PM
 
Location: Rust'n in Tustin
2,176 posts, read 2,375,015 times
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Quote:
Originally Posted by mathjak107 View Post
Been handling my own money for 30 years ....money mgmt is not hard if you take the time to learn.....no different then developing the skills to drive car cook do you need a professional driver ? Do you need a chef ?

What is hard and complex is good tax planning and can require a pro....
The biggest thing about having someone else manage your money, is it takers out the emotion.
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Old 06-27-2019, 06:22 PM
 
Location: Rust'n in Tustin
2,176 posts, read 2,375,015 times
Reputation: 3807
Something about a doctor treating themselves, and having a fool for a patient?
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Old 06-27-2019, 06:25 PM
 
238 posts, read 65,309 times
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Quote:
Originally Posted by ysr_racer View Post
Really, age is the least? I've always been told be aggressive when you're young, and conservative when you're old.

I'd hate to be 80 years old, and lose 50% of my portfolio.
I'd hate to be 80 years old and run out of money. The reality is, if you're 60 years old, you're probably going to live until you're 90. Thats a 30 year investment window, which means at age 60, you're investing for the long run and unless you have a lot of money, you can't afford to be too conservative.
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Old 06-27-2019, 06:27 PM
 
238 posts, read 65,309 times
Reputation: 256
Quote:
Originally Posted by ysr_racer View Post
Something about a doctor treating themselves, and having a fool for a patient?
You mean lawyer:

https://english.stackexchange.com/qu...for-his-client
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Old 06-27-2019, 06:31 PM
 
2,443 posts, read 2,068,483 times
Reputation: 5690
Quote:
Originally Posted by Edward Teach View Post
I'd hate to be 80 years old and run out of money. The reality is, if you're 60 years old, you're probably going to live until you're 90. Thats a 30 year investment window, which means at age 60, you're investing for the long run and unless you have a lot of money, you can't afford to be too conservative.
That's quite an assumption.
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Old 06-27-2019, 06:45 PM
 
Location: Columbia SC
8,947 posts, read 7,725,979 times
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Quote:
Originally Posted by ysr_racer View Post
My wife and I went to another free dinner/financial planner sales pitch last night. In addition to getting a bunch of free dinners, we're learning a few things.

The "rule of 100" states, take the number 100, subtract your age, what's left is the percentage of your portfolio (minus a year's living expenses in cash) that should be in stocks, mutual funds.

The rest should be in something that provides you income, rental properties, CDs, bonds, and of course annuities (that they'll happily sell you).

So basically, if I'm 61, 39% of my portfolio should be in stocks and mutual funds.

Anybody heard of this investing idea?
Yes if I invited people of the right age to my seminar and I had products to sell them no matter the number. I bet he/they did.
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Old 06-27-2019, 06:54 PM
 
472 posts, read 93,715 times
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Quote:
Originally Posted by Edward Teach View Post
I'd hate to be 80 years old and run out of money. The reality is, if you're 60 years old, you're probably going to live until you're 90. Thats a 30 year investment window, which means at age 60, you're investing for the long run and unless you have a lot of money, you can't afford to be too conservative.
Quote:
Originally Posted by jasperhobbs View Post
That's quite an assumption.
Yeah, it's a tad bit overstated. Of those who are 60 today, approximately 1 in 5 men and 1 in 3 women will live until age 90. But I accept the general point, that we need to plan for what could potentially be a "long haul."

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Old 06-27-2019, 07:01 PM
 
Location: Columbia SC
8,947 posts, read 7,725,979 times
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Hope this helps. Male, born 60 years ago today, age expectancy 83.

https://www.ssa.gov/OACT/population/longevity.html
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Old 06-27-2019, 08:04 PM
 
Location: Central IL
15,201 posts, read 8,509,345 times
Reputation: 35600
Quote:
Originally Posted by HeelaMonster View Post
Yeah, it's a tad bit overstated. Of those who are 60 today, approximately 1 in 5 men and 1 in 3 women will live until age 90. But I accept the general point, that we need to plan for what could potentially be a "long haul."
Maybe a tad overstated...but as a woman, one chance out of three to hit 90 years of age is something to actively guard against by investing aggressively enough. If you had a 33% chance of getting cancer - would you do what you could to prevent it?
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Old 06-27-2019, 09:21 PM
Status: "Re-edit status" (set 14 days ago)
 
Location: Was Midvalley Oregon; Now Eastside Seattle area
4,145 posts, read 1,886,778 times
Reputation: 3167
OP, Yes, I've heard of the theory and a few others. I imagine retirement theories all work, until they don't. Nobel Prize winners can't solve this issue.
Since, 2008, I am mostly a timer and bought various "options." We were then 59/62, on the verge of early retirement.
Now 2019 at 69/72, our retirement Income is composed of ~45% SS and small pension, 35%% rental (net and discounted for reserves), 20% Annuity income.
By 2021-22, our retirement Income will be approx ~40% SS and pension, 35% rental, 25% Annuity.
By 2022-23, our retirement Income will be approx <40% SS and pension, ~35% rental +/-, ~25% +/- Annuity, and ~5% from trading accounts.
Our retirement accounts are loosely connected to equity and bond. The trading accounts is the biggest variable but their variability is a minor issue .
We have very low leverage in the rentals, have LTCi, and enough Income today. Health and mobility has become a big issue with us.

Last edited by leastprime; 06-27-2019 at 10:23 PM..
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