Frederick Vettese

That's a pretty big part of our retirement income outlay during our early retirement years anyway.

It's a pretty big part of it.

And it actually comes into play in funny ways.

For example, we talk about annuities.

One financial advisor tells me she was trying to get some people around age 75, 80 to buy an annuity with part of their assets because it made a lot of sense in their case.

And do you know what?

The kids really stopped them from doing it.

These are their older middle-aged children.

Stopped them from doing it.

They don't want them to use a big chunk of that money to buy an annuity.

That's 100% right if you have the money.

And there's different segments of the retirement income market.

I tend to be speaking to the people who are going to retire with, say, between $500,000 and $1 million in assets.

Maybe call it between $500,000 and $2 million.

And for that crowd, they should be able to have a comfortable lifestyle in retirement, but they won't have very much money left at the very end if they end up living until 90.

If you have more than $2 million, more than $5 million, then sure, you should have all the means possible in order to gift.

And let's face it, if your kids are now 30 or 35, they'll probably need the money a lot more than they're going to need it when they're 50 or 55.

So, yeah, this is the time to be doing it when they're still young enough to really need the money and maybe appreciate you for it.

I do think about King Lear, though.

I mean...