Recently, I spoke with an 85-year-old widow who did not need any of the money in her portfolio. Her income was sufficient to meet her needs. Her assets were in case she had a medical emergency or needed a new car. Whatever was left over would go to her children. She would sell her home if she needed to move into a retirement home. She was very conservative and did not need nor want to change her conservative investments.
Her current investments contained very few stocks, but she was also unhappy with her portfolio’s returns. Her disappointment was unsurprising given that the first quarter of 2022 had some of the worst bond returns.
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