Quote:
Originally Posted by Hawkeye
I am going to go out on a limb and say the majority of people do not have enough saved by the time they want to retire to live off of capital gains and not care if there is a major market downturn (hopefully heavily in cash).
I personally am planning on getting into an FIA or similar product before retirement so that I can have a known and reliable income for the rest of my life. Whatever does not go into that will likely be play money and extra spending cash.
I think you would be hard pressed to find a financial analyst that would suggest you stay risky when you no longer have an income to fund the account, hence the reason the time horizon matters. That and a longer time horizon takes a lot more volatility out of the returns.
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Had this very discussion with my financial advisor. Yes, I use one as I just have too much going on to spend the time necessary on my investments. He also subscribes to
2000cs 's philosophy. So far I have no reason not to trust his decisions as he's done well for me over the 6 years I've been with him. He also said he eats his own dog food with how his own personal investments are allocated.