Walter's column parrots Financial Planning 101... the basics of taking diversification and tax impact into consideration when investing. Interesting that he doesn't go into:
- Estate planning implications (what does the wife do with the hated collection if he should pass away first?)
- The cost of insuring the collection
- The cost of storing and protecting the collection
Since he's a fan of IRAs it's also interesting that he doesn't go into:
- The potential for tax rates on IRA withdrawals to be higher than they were when the money was earned.
I think that his $5 Million comment came from working back to what a "safe" $250,000 asset allocation percentage would be from an entire estate.
Marc
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 Igitur si vis pacem, para bellum -
- Therefore if you want peace, prepare for war.
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