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Segregate your money/investments.....
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Posted by MI-Roger [Email] (#882) [Profile/Gallery] (more from MI-Roger) on Thu, 15 Mar 2007 17:36:23 Share Post by Email
In Reply to: Re: RETIREMENT -- How much $$ do you need ?, Caarma [Profile/Gallery] , Thu, 15 Mar 2007 12:46:55
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You don't need or want all of your life savings in super safe, and low return, funds immediately when you retire.

If a person retires today at age 55, in good health, the actuaries will tell that person they can plan on living until age 95 - a total of 40 years.

The individual should split their accumulated funds into four piles, one for each decade of retirement. One fourth needs to be in a super safe, income producing investment to live on immediately. Plan on consuming the interest and part/most of the principle during the initial 10 years.

One fourth, the final fourth, should remain in low range growth investments, with their accompanying higher returns and higher risk. These funds won't be touched until the person reaches age 85, thirty years in the future!

The other two portions need to be invested in time domain appropriate investments - not too safe and not too risky. The person will need one portion in 10 years and the other in 20 years.

Plan on achieving 6% annual growth with your investments in reasonably safe funds. Depending on a person's own individual tolerance for risk and uncertainty this figure can be pushed a little higher but don't plan on more than 8% on an annual average.

There is no magic answer to the initial question. My planner tells me I can retire in 5 years (age 55), live until 95, and die with many times what I have today - which is not an overly impressive amount, so please don't think I am trying to boast.

The best answer is to interview many financial planners until you find one you are comfortable with, both personally and professionally, then follow thier advice.

Personally, I think it is equally embarrasing to lay bare all your financial assets and history in front of a trusted planner when compared to standing bare in front of a trusted Doctor.

posted by 68.40.14... 
_______________________________________
Saabs owned:
2008 9-5 Aero Sedan, sold at 227K miles
2006 9-3SC 2.0T - Wife's daily driver
2000 Viggen Convertible - Sold May, 2022
1964 Quantum IV Formula Car - Retirement project
2000 9-5lpt Sedan, sold at 318K miles
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