Personal Finance and Investing

doc03

(37,294 posts)

11. I am 74 years old, from what I have read at my age you should have no more than 40-45%

Reply to PoindexterOglethorpe (Reply #10)

Wed Mar 16, 2022, 06:44 AM

Mar 2022

invested in equities. At my age if we have a bear market I may not ever recover my loses. In 2008 instead of
selling out I stayed in the market and gained about 300% but that took a decade. I am required to take some RMDs
every year from my IRA that is around 42% equities. What do you do? Put the money in the bank or a MM mutual fund
and get .1% interest, buy I bonds and get 7.12% or be overloaded in equities. I am satisfied with my home I don't
need or want a newer bigger home. I bought a new car two years ago, don't need a car. I help my nieces out and the last
two years I have been putting $10k in I-Bonds, good interest rate and zero risk.

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Doesn't this seem like it is too good to be true? [View all] NeoConsSuck Mar 2022 OP

Ahh, you forgot, money makes money.... Dan Mar 2022 #1

That's not bad if inflation doesn't pass 7% annually bucolic_frolic Mar 2022 #2

I have two of them NeoConsSuck Mar 2022 #6

This isn't making sense to me. A HERETIC I AM Mar 2022 #3

My assumption was five years of interest @ 5% a year. NeoConsSuck Mar 2022 #4

OK...fine...I see why you worded it the way you did. A HERETIC I AM Mar 2022 #7

I think he's assuming 5% per year bucolic_frolic Mar 2022 #5

I bought one last year and one this year. The problem doc03 Mar 2022 #8

There is also no state or local tax on them. You aren't doc03 Mar 2022 #9

Because stocks return less than 5% a year. PoindexterOglethorpe Mar 2022 #10

I am 74 years old, from what I have read at my age you should have no more than 40-45% doc03 Mar 2022 #11

I am 73 years old myself. PoindexterOglethorpe Mar 2022 #12

He is talking about US government I Bonds. I Bonds interest is based on the inflation rate doc03 Mar 2022 #13