[quote=sdrealtor]Obviously you have never managed a retirees portfolio. None of those are appropriate for someone whose first priority is safety of principal and number 2 is income. There is no number 3 for a retiree.[/quote]
No, I have never managed a retirees portfolio. It would be a disservice to those folks if I claim I know more about investments than what I really know. I also know enough to understand that just because you’re retired doesn’t mean you need to “retire” your investment style. If you believe in the market during your working years then why should that changed when you retired? You might want to play a little defensively and make sure you have a “bucket” of money invested in something that is shock-proof to the market downturn, but continue to invest the rest of the money in the equity market. If a retiree goal is to protect the principle then why pay for someone to do it when they could do it themselves by either stick it under their mattresses or a saving/cd account if they’re less risk adverse.
