Subject: Re: Barry Ritholtz’s Investing advice
Buffett was worth about $3.8 billion at age 65. Now at age 94, that investment in BRK--including the portion he has given away--is worth about $365 billion. Which is to say 99% of that wealth came after age 65.

A financial illustration of Zipf's law.

As we talked about on the TMF board a couple of decades ago, the first comma is the hardest.

At Christmas I had a family discussion about investing for retirement with my son and his wife (with 3 youngsters), we (my wife and I) always bemoaned that when you are a young family and need the money badly, your income is low, but later in life your income is highest but your kids are grown and gone so your expenses drop a lot. Too bad life isn't the reverse, so you'd have the most income when your expenses were highest.

DIL kind of hoped that this was the lead-in to us giving them a large check. Sadly for her, not the case.