No. of Recommendations: 5
stardustangel: "My boyfriend's father, age 77 years old is retired.

I recently learned that his father was not managing his retirement accounts well at all.

Specifically, 90% of his nest egg is in stocks."

While a bit high, that is not necessarily a problem if is other income is adequate for his needs.

"He has not taken a single mandatory distribution from his IRA or 401k."

If he has 5+ RMD that were not taken, he will owe a bunch in taxes and penalties. I do not recall if any of the tax gurus post on this board regularly. You might look at the FAQ on the Tax Board or check out

"He receives SS and a pension which I believe pay most of his expenses including a mortgage. He has no tax liability as his mortgage interest deduction wipes out his AGI."

It must be a huge mortgage and/or at a very high interest rate, plus what does he use for other spendign money if his SS and pension all pay mortgage interest?

"Or potentially purchase an annuity for income purposes."

That would be about my last choice.

Regards, JAFO

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