This question is related to my annuty decision read- http://answers.yahoo.com/question/index;_ylt=Ar_dRJ4YJLagG9gzcb6AjvLzy6IX?qid=20060915163237AAoeMk3
What we learned was that the financial advisors advice today was no different than 8 years ago. Except for the balance between stocks and bonds which was a bit less on stocks.
The only comfort they offered about the risk of their portfolio and they all used it, was the rolling time period story. Now, we both have good memories so my husband and I picked up on this quickly. 8 years ago in our advisor interviews the rolling period was 10 years. Now in current interviews some discussed 15 years and some 20 years. Why should we believe this now when the 10 year rolling period did not work for us? Another example was the amount of income we could draw from our portfolio. 8 years ago they said a 5% to 6% draw and we would not run out of money. Now, with straight faces, they say 3% to 4% draw and we would not run out of money. Well which
2006-09-15
12:39:38
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4 answers
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asked by
Rich Kathryn
1
in
Investing