chicken money
Hi terry – I know you always advise to stay invested in the market. We have a million and a half amount in our retirement funds so if we sell some of our stocks and put it into chicken money right now considering the Ukraine situation would you agree with that thinking. We can then dollar cost all of it back when we have a clearer picture of the volatile section right now. My wife and I are both in our early seventies. Always appreciate your thoughts. Thanks.
Terry Says
I think at this stage of your life, and given current circumstances, I would (and do) have at least 30% of my retirement money in Chicken money — t-bills, CDs, etc. It is the price you pay for sleeping well at night! Inflation eats away at it slowly — but nominally it is still “there” for you to spend!
That said, and that done, what you really need is a review with a fee-only financial planner who is a FIDUCIARY — not trying to sell you something or anything! Find one at Wealthramp.com — and read about it at this link on my site. I get nothing out of this recommendation except the knowledge that you will be in food hands.
