12-11-2020, 11:54 AM
NO ONE does. You are right. I had advised my mom and, at times, helped advise husband and sister. Husband pretty much took over his when he retired and stayed good on choosing investments even as other parts of his thinking deteriorated. Ten or so years ago, sister wanted me to tell her what was going to happen to interest rates and I told her I did not have a clue - finally decided she needed to switch advisers lest I driver her off into the ditch with me. I am pretty sure that we have a while before interest rates go up again with a significance in life style for those trying to live on interest. Am not sure about inflation, but I did buy TIPS (about 20% of portfolio) 17 years ago and intend to keep them.
Primary fear has always been deterioration of my mind and inability to keep up with investments - something I have always enjoyed (running "pretend" portfolios since I was 12 and real since 24). Daughter has passed the investment part of one of the chartered financial exams - she is more conservative than I, which I suspect is good for when she needs to take over. I pray that I will know that time - have tentatively marked it as when I go to assisted living - if my mind still works, I will still want some to play with.
Primary fear has always been deterioration of my mind and inability to keep up with investments - something I have always enjoyed (running "pretend" portfolios since I was 12 and real since 24). Daughter has passed the investment part of one of the chartered financial exams - she is more conservative than I, which I suspect is good for when she needs to take over. I pray that I will know that time - have tentatively marked it as when I go to assisted living - if my mind still works, I will still want some to play with.