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Author: Fredzbabez Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75383  
Subject: How do I overcome the "greed" factor? Date: 12/15/1999 2:00 PM
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My wife will be joining me in retirement next year. I have a small pension of $850/mo. We are not yet eligable for Social security. The "problem" is I
have a very widely diversified portfolio. I do a lot of trading, call option buying and call writing in IRA accounts and have substantial amounts in "solid" companies in regular accounts.I also have a few funds and some Fed notes. I want to "get out" of this trading binge I've been on and just enjoy the benefits if I can be shown just how to allocate my investments. The "trouble" is I now have three times the net worth I figured I would "need" just four years ago.... AND I love playing the market!
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Author: JABoa Big gold star, 5000 posts Feste Award Nominee! Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16355 of 75383
Subject: Re: How do I overcome the "greed" fact Date: 12/15/1999 2:14 PM
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We should all have such trouble. Why not stick twice that "need" in something that is behind a firewall (twice needn't be the number, just something that has a big cushion -- I personally would go higher), and continue trading with the rest? You are in effect gambling with the house's money. Plus, you won't be underfoot once your wife retires.

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Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16356 of 75383
Subject: Re: How do I overcome the "greed" fact Date: 12/15/1999 2:14 PM
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Welcome, Fred.

Personally I would put one X retirement "needed" net worth in something fairly safe like an S&P Index Fund. Then you can play around with the other 2X trying to earn that idelic life on your own south sea island or perhaps a huge yacht with servants waiting on you hand and foot. Why not both.

Beyond that, you may have to look into the services of a shrink. You sound very competitive. Have you tried golf? You have some of the highest class "problems" around.

Good luck and Fool on.

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Author: rjm1 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16437 of 75383
Subject: Re: How do I overcome the "greed" fact Date: 12/16/1999 5:55 PM
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We should all have such trouble. Why not stick twice that "need" in something that is behind a firewall (twice needn't be the
number, just something that has a big cushion -- I personally would go higher), and continue trading with the rest? You are in
effect gambling with the house's money. Plus, you won't be underfoot once your wife retires.


Just what I would have said.

Why give up the fund in your retirement?

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Author: DHatch Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16604 of 75383
Subject: Re: How do I overcome the "greed" fact Date: 12/20/1999 2:31 AM
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Fredzbabez Date: 12/15/99 2:00 PM Number: 16351
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<<The "trouble" is I now have three times the net worth I figured I would "need" just four years ago.... AND I love playing the market!>>

Yeah, I know just what you mean, and ...

LORD, IT IS HARD TO BE HUMBLE!

If one truly loves playing the market, why, oh why, would one want to get completely out? Have you lost confidence? Are you afraid of paying off too much of the national debt after you "pass on"?

Heck, you cannot really take it with you anyway, so why not keep on keeping on, if that is what brings you pleasure and you still love doing it?

Many would be delighted to have your estate tax pay off all of the national debt. You could single-handedly revolutionize the economy, at least until those government devils figure out how to spoil it.

.02

P.S. On the other hand, if you are determined that the government receive nothing, you could always consider the unlimited marital deduction, pay off the old wife, get your self a child bride, give her investment instruction and instruction to get herself a child husband and give the same instructions and so on and so forth ad infinitum. Of course, you would not personally be around to even know whether or not your instructions had been carried out or not. Ah well, no plan is perfect.



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Author: markr33 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16638 of 75383
Subject: Re: How do I overcome the "greed" fact Date: 12/20/1999 1:29 PM
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P.S. On the other hand, if you are determined that the government receive nothing, you could always consider the unlimited marital deduction, pay off the old wife, get your self a child bride, give her investment instruction and instruction to get herself a child husband and give the same instructions and so on and so forth ad infinitum. Of course, you would not personally be around to even know whether or not your instructions had been carried out or not. Ah well, no plan is perfect.

Is this actually possible and legal ? It's a great idea to keep monry in the family !!! Have the oldest member marry one of the younger cousins after the spouse dies, etc....



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