Ask Terry Questions 401K and Retirement

401K and Retirement

By Terry Savage on March 04, 2020 | Investments

I’m 10 years away from retirement, should I consider a more conservative approach to my 401K or keep up with the current schedule? Is 10 years considered near retirement or still far away?

Terry Says

I generally think the time horizon for “near” retirement is within 5-10 years of retirement. Before this stage, you have plenty of time to ride out a bear market before you’re required to start withdrawals. But we are now in the waning stages of a historic bull market. I would think that you’d want to protect some of those profits, but switching a portion of your money to the most conservative choices — enough to let you sleep at night!



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