Retired Investor
As a current retiree, should I move my investments during this uncertain period for the stock market? If the market continues to drop can I lose everything or only certain amount? My broker is insisting on leaving things as is but it’s not her money that will be lost.
Terry Says
Well, that’s a key point. It’s YOUR money. Good advice can keep you on a steady path. But once you’re retired, it’s tough to see your retirement funds melt away. The key is “asset allocation” — making a plan that sets some money aside for safety, in bank CDs or T-bills or MM fund. You can’t lose that. And letting some money grow in a diversified stock market fund.
How much of each? There’s an old Wall St. saying: “Sell down to the sleeping point!” If it’s keeping you awake, take advantage of the current slight rebound and set some aside in “chicken money” investments I just described.
Your broker is not sharing in your losses! So it’s your decision.
