Retirement savings
My wife and I are 62. Holding off on SS until 70. We have about $500k in savings, house paid off, no debt. Last year my individual stocks returned around 16% but the equity funds my broker has us in returned much less. Am I being foolish by riding the Bull market for too long? Should we take our gains and sit out 2018?
Terry Says
I see no reason why your broker should have underperformed the market last year! Almost everything went up! So you should start asking questions. Remember, a "broker" is not a fiduciary financial advisor. Perhaps it's time for someone else to take a look and advise not only on those individual funds, but on your overall asset allocation. A bear market in the years before retirement could be devastating to all your best plans. Go to www.feeonly.org to search for a fee-only financial advisor, who acts as a fiduciary (putting your interests first) and does not take commissions or fees on the investments recommended. And learn more about the role of a financial advisor (as opposed to a broker) at www.campaignforinvestors.org.