Ask Terry Questions a few years to retirement

a few years to retirement

By Terry Savage on August 15, 2019 | Financial Planning / Retirement

Terry, I have followed you for years. 4 months ago I pulled about 1/2 of my money from a Vangard S & P index fund to a more balanced 2030 stock / bond fund. I for saw this and I need protection from what is about to happen. China is not our friend never was, but they knew all this as we sold out American workers for cheap imports and fat shareholder value. Similar things happened with cheap Japanese imports 50 years ago the difference is China has 1 goal world domination, as long a Trump is President he is the only one not for sale.

So what’s my play?  I can retire Tomorrow but don’t want to to pad my SSF benefit and get Medicare 1st.

Terry Says

If you’ve reached retirement age, it’s a good thing to become a bit more conservative with your investments.  But from the tone of your letter it sounds like you’re not ready to stop working.  So I’m not sure I understand your question.  Just be sure that if you are nearing the age when you MUST start taking withdrawals form your IRA (the year after you reach age 70-1/2) that you have 4-5 years of cash inside the account, so you aren’t forced to sell stocks in a bear market to take required withdrawals!

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