Asset allocation
I’m 75, married, retired. We owe no one anything and if we had to sell our house in 90 days or less, we’d probably net $400K. We currently have $660K in our IRA and an additional $90K in a brokerage account. Both accounts are 60/40 stocks and bonds. I pay a Morgan Stanley broker 1% and he wants me to remain in the stock market. What would you do if you were me.
Terry Says
I’d get a new advisor! Even Vanguard just switched its basic advice from 60/40 to 40/60!
I’m guessing your advisor hasn’t lived through a prolonged bear market.
Please listen to the latest radio show on WGN — there’s a link at my website, box in top right corner.
It’s your money. I’d move more to a money market fund. Perhaps 20% of your stock allocation.
And to find a new advisor, read this to get a fee-only FIDUCIARY advisor:
https://www.terrysavage.com/pam-krueger-wealthramp/
