401K options
Hi Terry,
I am 85 years old and I have approximately $85,000 in my company sponsored 401K a few months ago. I’ve lost about $10,000 in value in the last couple of months. I plan to stop working in the next 18 months or so. Any suggestions on where I can move these funds to stabilize my losses?
Terry Says
Was that a typo?? You’re 85 years old and still working?? In any case, there should be a money market option inside your 40l(k) plan. You won’t lose money there — except to inflation. If you’re retired, you can do a “direct rollover” to an IRA at Fidelity or Vanguard. As I type this, I’m still wondering about your age, so I won’t proceed with instructions on that until you post again and clarify your status.
