IRA — keep investing?
Hi terry , thank you for taking my question, I’m just a construction guy who knows absolutely nothing about financial things. I have been putting money in a IRA at vanguard for a few years and now have roughly $ 200,000.00 half is bonds half is stocks should I just leave as is ? I am 65 and do not actually cannot retire anytime soon. I value your opinion thank you again.
Terry Says
YOu’ve done a good thing — and congratulations. We may go through a period of a few years, where the account loses value. But if you are still working, keep contributing. YOu’ll be buying stocks at bargain prices as the market goes down. That’s a tough thing to do, but keep the discipline!
Also, set aside some savings in a bank money market account OUTSIDE your IRA. You might need that for emergencies — or unemployment — if the Fed creates a recession as it tries to slow inflation. The more you can save the better — so take all the overtime and side jobs you can now, while the “getting is good”!!
