Date: Tue, 13 Dec 2005 15:15:55 -0600
From: "Don" 
Newsgroups: misc.invest.financial-plan
Subject: Re: Tax avoidance strategies?
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	GVFomOYCqLAZkdgvZnOrXA3e6Yn1pjJdUjrdtm2UYjItx+vfSvEx3g==
	=/4CL

"Tess Millay"  wrote in message 
news:dwDnf.3775$nm.1910@newsread2.news.atl.earthlink.net...

> Sure, for you. But others, less fortunate and as they hit
> 70, may very well have to draw down on principal.

> I think we're not on the same page. I think people who make
> their own way tend not to be gamblers. Those who bet on
> receiving an inheritance are.
>
> Also, even those who "make their own way" may have to draw
> down on principal.
>
> So I don't know exactly what you mean by "risky ventures,"
> but someone making their own way should be smart enough to
> allocate and diversify so that risk is low.

I agree with most of what you are saying, and I do not believe anyone should 
bet on receiving an inheritance. And indeed many families are not well off 
enough to either give or receive inheritances. Nevertheless, I still reject 
the notion that seniors should take out reverse mortgages, or buy annuities 
or hot performing mutual funds with home equity, or invest money in 
little-known-to-most products that appear to contradict the time-tested 
principle that high risk accompanies high yield. These things are more 
dangerous than counting on an inheritance. And, unfortunately, many people 
who "make their own way" and are sensible during their earning years go 
haywire after retirement and get taken by all sorts of scams (and sometimes 
also get taken by those younger stepmothers and stepfathers to which you 
refer).