Quote:
Originally Posted by David
This. His CFP should have convinced him 20 years ago to move half of all the cash he had into a Roth IRA invested in an S&P 500 mutual index fund. (There’s an annual contribution cap for IRAs but no cap on total account value.) He’d have plenty without resorting to selling wine at Costco or silly electro-vests or all the crazy gadgets he’s been involved in.
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Mick's never been smart enough to do these things. He always wanted to live like Stevie, on 1/10th of her money.
I've got an IRA, but also(right or wrong) invested a bunch of money into two different annuities, only because they're guaranteed for life. My biggest fear is living to be 95, but running out of money at 80.