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Strategies & Market Trends : Dividend investing for retirement -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (26480)	2/6/2017 6:08:51 PM
From: geoffrey Wren	Read Replies (2) \| Respond to of 34328

It is true that as one's abilities decrease, one is in more of a fix. In my opinion, when there is no one watching a manager, the manager often takes advantage. At a bar, the bartenders pour too much and get tips. I knew a bar owner who said he did not worry about that because it was always happening and that it was an issue of degree; he just worried about his cash flow being at the level he wanted. In the old days, and probably now to some degree, a stock broker who had discretion and a client who was not alert (an old one, a widow, a young fellow with an inheritance) would churn the account, or put the investor into a lousy load fund with high fees. Now these stock brokers will become fiduciaries. I would not want to test that theory. If one could no longer handle finances, and could be absolutely sure of the fidelity of an independent adviser, the adviser would be worth 1% a year I suppose. It would be good to have a trusted child or niece of nephew to help out. Another thing to consider would be the purchase of an annuity. Annuities have modest returns, but for older persons the annuity is mostly valuable as a form of insurance against long life, and greatly simplifies the calculations of cash flow that can be maintained.