for IEABarry:I do the same thing, taking the discounted present value of my small private pension and (gulp) even my social security as bond equivalents. You have to pick a life expectancy and an interest rate to do that calculation, of course. While I'm at it, I include the conservatively estimated current value of the house I own and live in as a bond equivalent, since it pays me the equivalent of free rent. (OK, OK, I have to pay property taxes, maintenance, utilities, and insurance for the house, but I don't pay income taxes on the rental value.) The government statisticians include the rental value of owner-occupied houses as part of Gross National Product (according to my econ professor thirty years ago). Regards,Chips
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