What to do with trading account
Terry, read your story on chicken money! I have a retirement account with a broker who I haven’t spoken to in 5 years! approximately 116k , I am 68, risk averse! Account is Tech stock heavy, wanted to know your insight, about holding onto to ride the market, sell portfolio and invest in bank cd’s or t-bills. What would be the tax implications be? Thanks! Big fan!
Terry Says
Wait. Is it a retirement account? If so there is no tax consequence to making a change in investments inside the account.
Second, if you haven’t talked to the broker, who made the decision to invest in those stocks? You could sell some and just put the money in a money market fund INSIDE the retirement account.
Separately, It’s probably time to get some overall financial and retirement planning advice from a fee-only FIDUCIARY who is not tying to sell you something.
Read this:https://www.terrysavage.com/pam-krueger-wealthramp/
