Hi board members!Need some feedback from this board for my 82 year old uncle who came to me for advice.His question: How should I be investing my retirement savings?BackgroundAge: 82Cash: $580,000Home: $275,000 (no mortgage)Needs to generate $1,000 a monthRight now he has an investmenet account with a financial services/broker/investment bank etc. His present account is 50/50 cash and sercurities. He seems to be in good health, but believes that he may only have 3 or 4 years left. The current market situation makes him very nervous. He continually updates his losses daily (by hand). He has lost less than 5% of portfolio in the recent downturn, which he calculates into his the hourly wage he made 18 years. Even a twenty dollar loss on day makes him sick to his stomach.My advice to him was: Hire an independent advisor and or tax accountant who will probably tell him to sell his stocks for some fixed income securities and enjoy your remaining days.I haven't been able to find much advice for 82 year olds at the Fool, but I suggested that since his outlook is less than 5 years he might want to consider getting out of stocks.What would you do? Thanks.Tom
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