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Politics : Ask Michael Burke

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To: hdl who wrote (125035)	11/6/2010 10:52:21 AM
From: Knighty Tin	Read Replies (1) of 132070

There is nothing wrong with the holdings in the portfolio, but they are obviously not capital preservation tools. One point missing is the old guy's age. If he is retirement age, part of that portfolio should be in a fixed immediate annuity. These have nice, high payouts because they are giving you your money back. Then, you outlive your life expectancy and screw the insurers. <G> The negative is that this part of the portfolio dies with you. That doesn't bother me, but it bothers some. But you should only use AAA rated insurers. There are all of 4 of them left in America: New York Life, USAA, TIAA-CREF and Northwestern Mutual. The two initialese cos. have the better payout, as they don't employ commissioned sales personnel. The other half of your portfolio will protect you against inflation erosion. I would add some Vanguard Dividend Growth Fund, some European Growth stock funds, and some international real estate.

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