No. of Recommendations: 2
I love the word, "definitive" :-) bingo

Defimitive means based on the future repeating the past.

The defintive thing to do, which Paul started by recommending, is to figure out expenses and financial resources and what kind of withdrawal rate will be required. The reason my allocation in fixed income seems high to many is because I save a lot and don't spend money on stuff other people think I should want. That means I will retire with less than a 3% initial withdrawal rate and aces in the hole (like Social Security and home equity). You father doesn't sound like he can do that, but if you can't get him to do some basic budgeting and financial planning, the whole thing becomes a wing and a prayer.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.