Allocation
Hi Terry…I listen to you on WGN and follow your website. I was divorced in 1990 with little to no savings. I worked almost 40 years in the medical field. I tried to learn about investing . I have saved and denied myself many many times to become secure financially. I’m in a 60/40 mix. The 40% is bonds and money market mix. I am thinking of pulling my 60% out. After handling my money myself my whole life I went with a financial company. What a mistake. The company got bought out. We were assigned a new advisor in February and when I called 3 weeks ago with my concerns about being positioned for a possible recession I was told he was out of
the country till April. So i didn’t do anything and the market crashed. Well needless to say I have lost a significant
amount of money. I don’t know what to do. The sad thing is I never really got to enjoy my savings and now I will be afraid to spend anything. Thanks for all you do.
Terry Says
OK, don’t look back. First thing, you need a new advisor. Read this and act now:
https://www.terrysavage.com/pam-krueger-wealthramp/
I don’t know what your investments are, don’t know whether the money is inside a retirement account (making taxes not a factor if you stay within the account, but move to more conservative investments) and don’t know if you are dealing with a broker who makes money on commissions (thus serving yourself up if you decide to sell!).
So I can’t give you specific advice right now. Don’t panic and sell. Go through the Wealthramp process and get an advisor who is not trying to sell you something and who charges only a set fee.
