DGS49
Diamond Member
Every year in January I (my wife and I) have a nice little meeting with our financial "Professionals."
Part of the meeting is when they try to give us a warm, fuzzy feeling by telling us that our portfolio has been specifically designed for someone in our specific situation (both in our 70's), with our best interest the focus. (Our balances generally follow the Dow, coincidentally).
This year, I'm going to make the following pitch to them:
Guys, the entire financial world expects the stock market to take a serous dip this year, the only question being, How bad? If you converted our entire portfolio to cash (or cash equivalent) right now, we would have this meeting next year and the value of the portfolio would be about the same as it is now - cash interest earnings minus our minimum withdrawals.
So if we come back here next year and our balance is LOWER than it is today, you are fired. Because your strategy couldn't even match DOING NOTHING. So don't even try to tell me next year that even though our portfolio is lower, "We out-performed the market."
What do you think?
Part of the meeting is when they try to give us a warm, fuzzy feeling by telling us that our portfolio has been specifically designed for someone in our specific situation (both in our 70's), with our best interest the focus. (Our balances generally follow the Dow, coincidentally).
This year, I'm going to make the following pitch to them:
Guys, the entire financial world expects the stock market to take a serous dip this year, the only question being, How bad? If you converted our entire portfolio to cash (or cash equivalent) right now, we would have this meeting next year and the value of the portfolio would be about the same as it is now - cash interest earnings minus our minimum withdrawals.
So if we come back here next year and our balance is LOWER than it is today, you are fired. Because your strategy couldn't even match DOING NOTHING. So don't even try to tell me next year that even though our portfolio is lower, "We out-performed the market."
What do you think?