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Financial planning not based on age alone
Q: We are age 79 and 76, retired, in good health, and are fortunate to have enough money to live out long lives and probably leave an estate to our children. I would like to know what is a decent asset allocation for somebody in our financial situation. Naturally, we would like to preserve our principal. We've been told that 100 minus age (79) is the amount that should be allocated to equities, but we've also been told by an adviser that 60-40 is proper. Why would we be getting advice that differs so greatly?
November 2, 2012