Subject: Re: Portfolio for a 90 year old
Keep in mind the devaluation resulting from 30 years of inflation (from age 60 to age 90). Assuming an average inflation rate of 3% a year, that future payment of $10,400 is worth $4285 in today’s dollars.

Conversely, if you kept the $100,000 in an investment that only earned 3% a year, it’d be worth $243,000 30 years later.