Every retiree shares the fear of market losses resulting in “running out of money before running out of life”. He or she also worry’s about inflation eroding their purchasing power, especially if forced to live on a fixed income.
Answer – Start with $2,000,000! This week’s title of my column has been a joke circulating through the ranks of comedians for years. However, given certain periods in the stock market like 1973-1974 and 2000-2002 just to name two, some aggressive investor’s portfolios fell by 50% or more. Faced with this predicament would you buy more, sell everything or just do nothing......
Is there a correct age that would answer this question? I believe the answer is a birth for the parent of a new born child and if that didn't or doesn't happen, certainly upon the child's earning his/her first pay check from his/her first serious job.