investments too risky in retirement?
I have my investments with Fidelity. My wife and I are both retired. Because of the current financial state we contacted our agent with concerns about our loses. Our portfolio is close to 50% stocks 50% bonds. One of his options is to take a percentage and divert it to “Wealth Advisor Solutions” with ” Zack’s Investment Research” to minimize risk. We were thinking of 20% but they suggested closer to 40% (Red flag?). We then looked at some reviews on line and they had a lot of negative comments. We would like your opinion on what we should do. Thank you.
Terry Says
A 50/50 portfolio is very risky these days for retirees. Thats because when interest rates to UP, bond prices go down. So at this stage they are just as risky as stocks. And the Fed is promising to raise rates.
I have no idea where the stock market will go next, but in retirement with RMDs coming, being fully invested is folly.
If this were my portfolio, I would sell have my stock funds and half my bond funds and leave the balance earning next to nothing in a money market fund. And not look back. And definitely not follow the advice of this “agent”!!!
