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Greetings, JIMSR, and welcome to Fooldom.

<<I am 69 and just graduating from thinking that I couldn't do better than the Magellan fund. At this time, virtually all of my savings (6 figures) are in mutual funds, but I also have enough from SS and pensions for day-to-day expenses. I would appreciate comments on equity investing for a person in my position. >>

Me? I'm all for it! At your age you can easily look forward to another 20 years or so of investing. Therefore, to offset inflation I think there's nothing better than stocks. However, I also have a rule of thumb that says no money I know I must spend within five years can go into equities. That's because they are too risky in the short term, but over five years or longer not so risky. Another rule of thumb says the older I am, the greater the percentage of my portfolio that should be devoted to blue chips like the Dow and the less to pure growth stocks. That's because the blue chips have a history of solid, dependable dividends coupled with reasonable price appreciation per share. They may fall, but I won't be wiped out in the event I do have to cash them in.

Hey, in your position if you don't need the cash to live on, you're gonna make your kids quite happy by building up that estate. :-P

Regards.....Pixy
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