My parents are retired and I control their assets. They are immigrants that came from nothing and will never be comfortable spending money. They only worked factory jobs but have a few million in assets now. They are easily living off of their social security and interest.
For about 15 years, I have been investing their money as if it was mine, which means 80% stocks and 20% bonds/high interest savings. My wife gave me the idea when she pointed out they will never touch it. Thats when I decided that increasing the bond % as they aged was pointless.
I take their RMDs and just stick them in a taxable account. A few times a year, I have to take money from their checking because they don‘t spend money. My mom’s 65k RMD is crazy because her peak salary was 40k.
Is there anything wrong with this strategy of pretending they are in their 40s??