With retirees living longer than ever beforeaEUR"which means much more time for inflation to eat away at your nest eggaEURtms purchasing poweraEUR"itaEURtms important to not go too conservative too early in life. They typically get paid more, and even have a priority claim over common stock on the companyaEURtms earnings and assets in case something bad happens, like bankruptcy. We simply wait and only purchase CEFs when they trade at a discount to their net asset values (or the sum of the market prices of the preferred shares they own minus any leverage).