Bagiocop wrote:I have a guaranteed amount of money coming in each month from SS and a pension. I do not need to take money out of my portfolio to make ends meet. Does this mean I can be more risky or less risky in my AA? After doing a lot of reading here, I'm still uncertain about this. Thanks for the help.
It means both. You can afford
to take the risk, but you don't need
to take the risk.
Yes, exactly. but at this point one should back up and consider what one's objectives for one's wealth might be. Do you want to do more than make ends meet? Do you intend to leave wealth to someone else? Would you like to set up a trust to benefit someone or a cause?
In addition one should think beyond making ends meet today. Do you still anticipate that your income will be adequate at some time in the future if your health would fail, when you need assisted living, and so on.
This is just food for thought.