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Originally Posted by HaHa
And of course many of us are permanently out of a job. But I think some don't fully comprehend what that means.
My whole idea about risk changed when I realized that I had been away too long, and getting back as a wage earner woud be a very long shot.
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That's the reason a retiree portfolio should be heavier in fixed income. The risk factor shifts when the steady check goes away. Of course, pension benefits are another factor. People with serious COLA'd or non-COLA'd pensions have a greater cushion than those of us hoping for our SS check someday if we're lucky.
I am currently around 20% fixed income/cash. I'll make it 30% when I rebalance this August and go to 40% the following year. Tentative FIRE is January 2009. By then, I'm assuming my in laws medical conditions will have become more "stable."
I could go earlier but I can't see doing anything while DW is tied to parental care. If I FIRE'd now, I'd be sucked into it more than I am now. I'd rather calculate line pressure drops and size heat exchangers. I'm also hoping for a short international assignment to test out foreign living on the company's money.
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The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
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