At my age, should I be investing in Growth or Value IRAs?

I’m 51 and married. My husband is 48. My husband and I together make about $150k/year. We have no children, no student loans and no credit card debt. We have 2 car payments. We intend to work until we are 65. We are each contributing 15% to our 401k’s. My company does a 4% match and my balance is about $276.5k. His company’s 401k matches in stock (ESOP plan) and his balance is about $200k. Our assets: Home (approx. value $250k); IRAs $250k (mine); IRAs $200k (his). Company stock and options $18,000 (mine). I just sold some corporate stock in order to purchase $5500 in IRAs for both 2014 and 2015. Question: should I be investing in Value or Growth funds? If Growth, at what age should I switch over to Value? Thank you.

Terry Says:  It’s not an either/or question.  I have two suggestions for you.  First, contact the fund company that is acting as custodian your IRA.  If it is a large mutual fund company like Fidelity, Vanguard, T. Rowe Price, American Century etc, they will offer guidance and advice for reaching your goals.  OR go to TerrySavage.com and in the right-hand column, go to FinancialEngines.  If you follow the link, you will get a free trial to the Financial Engines investment advice tools — and it will guide you in the right direction for diversifying your investments for retirement.  (They give advice to many of the country’s Fortune 100 company 40l(K) plan participants, as part of the plan services.)  This link gets you to the same advice  — but you will have to fill in your own goals and current investments and personal information.