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If you sell 1% of the original share count each quarter it will generate income for 25 years.I believe the dollar amount will rise considerably.Thanks for all this, Jim. I find it very valuable, as I too am in my early 80s. However my personal hope is to leave as much as possible of our modest net worth to our four sons. So my goal is to preserve whatever assets we can while affording an enjoyable life to my wife and myself and assisting our sons as best we can. I've been retired for about 16 years. During the last 11.5 of those years our net liquid assets have increased by 44.7%, after withdrawals of 80.7% of initial value (despite a decline of 12.4% YTD). That spans a mostly bull market, of course, and reflects the benefit of having owned mostly BRK and enjoying what for us is a significant Social Security income. We own a comfortable home in a beautiful neighborhood and are presently free of debt. While we don't live extravagantly, we've been able to meet our needs and satisfy our mostly modest aspirations with average annual withdrawals of 4.7% of running liquid asset value. So now I'm trying to translate the plans you're proposing here into something that might leave as much as possible to our family. Your remarks would suggest that our home could easily secure a loan far more than adequate to purchase a deferred annuity at any point, thus freeing us up to continue enjoying the benefits of hopefully more fruitful equity investments. If you have any thoughts for how best to address this scenario, I'd be most receptive to learning of them. Thanks again for all you contribute to the lives of so many. Tom
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