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Author: AngelMay Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19224  
Subject: Re: Info needed Date: 8/9/2008 10:00 PM
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My working class neighbor across the street sold off his house to pay off his gambling debts and credit cards --- he even got a couple of thousand dollars back, representing his net worth.

He told me he was "starting fresh." At Age 70.

A good friend of mine retired early on an underfunded retirement. He's struggling, again at age 70.

Then there are all the fifty year old men, and a few women, living as trolls under bridges and such, out out of inoperable RVs and such.


You know ---- clues indicating people aren't doing very well. I'm sure most of them xissed a lot of money away over the years.



Seattle Pioneer


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And they represent MOST people?
Just asking. I know lots more people than that who are doing nicely. Or, at least, who are not squandering what they have.

I guess my point is that, if a person has had the fortitude to actually amass a good deal of money, what makes you (or the OP) think they are not capable of managing to withdraw from it intelligently without resorting to an annuity?

That's all.

AM
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