Kimo
Recycles dryer sheets
so I know spending more would not necessarily make us any happier
Good point.
Good point.
I am really starting to think along these lines. Maybe 80/20 with the 80 consisting of bonds and cd's.
One book I read had this "eliminate all risk" strategy... I think it was this book:
https://www.amazon.com/Spend-Til-End-Raising-Standard/dp/1416548912/
I have the book and Kotlikoff's software ESPlanner. If you're looking to go all cash or simplify investing/managing your portfolio - Spend 'til The End is neither, at all...One book I read had this "eliminate all risk" strategy... I think it was this book:
https://www.amazon.com/Spend-Til-End-Raising-Standard/dp/1416548912/Looks interesting. Weird pricing on Amazon, 3.56 and it is new for Hardcover and 9.99 for Kindle. For 3.56 I can take a gander, thanks.
LOL, I knew when I posted that, that it was screwed up!
Where did I say there's a "correct answer?" Quite the opposite actually...
When you quoted me and led with "Agree with just about everything you said, but still think there is no correct answer." "Come on," if you wanted to present an alternative view, just do it - instead of labeling my view as something it definitely wasn't.Where did I say you said there was a "correct answer". Come on, I'm just trying to add to the discussion by presenting an alternative view. Not win a debate.
Thanks easysurfer
I know if it was me it all go in the bank with that much!
Great question, and great answer (IMHO) I don't really pay much attention to it now.
PS. Think of the bank perks!
It's funny, once you have a lot of money, there are two mindsets that I think you can have--
1. I don't need to take any risk anymore, so I can go to all bonds/cash
2. The fluctuations of the market can't hurt me anymore, so I can go 100% stocks.
Ultimately, I am closer to the second mindset than the first, but I think each is valid. However, I also tend to temper my asset allocation based on the valuations of what I invest in ( dirty market-timer that I am). I would not be comfortable at 100% stocks at current levels no matter how much money I had. I'm at about 75/25, which is the lowest I've been since 1999/2000.
It's funny, once you have a lot of money, there are two mindsets that I think you can have--
1. I don't need to take any risk anymore, so I can go to all bonds/cash
2. The fluctuations of the market can't hurt me anymore, so I can go 100% stocks.
Ultimately, I am closer to the second mindset than the first, but I think each is valid.