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Old 10-03-2004, 06:03 AM   #21
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My Dad is just the same. He has "enough" for his needs
and a small cushion. Does what he wants and spends very little. I would never encourage him to
"spend every last dime". I may need that money

John Galt
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Old 10-03-2004, 07:08 AM   #22
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I heard somewhere that dying pennyless was financial planning at its best.

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Old 10-03-2004, 07:10 AM   #23
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
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How about dying $42 million in debt, owing $5M in taxes, with no estate, no heirs and no survivors to slap a bill on?
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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Old 10-03-2004, 08:15 AM   #24
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I'm sure those of you who use Vanguard look at their statistics on performance. Just looked at mine and it has been updated as of Sep 30. 5 year performance (Vanguard funds only, but that is 90% of our holdings) was over 6%. Pretty tickled since that includes the 2000-2002 pain. I was fortunate in retiring March, 2000 and setting up a balanced portfolio then after being too heavy in stocks. Also, spreading to REITs, small and international didn't hurt. Really look forward to their number for 5 years in March, since I think that was about the top of the bubble. Unfortunately, you can't vary the timeframe on Vanguard's return chart to a chosen date.

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