Ask Terry Questions Company IRA — worried about market

Company IRA — worried about market

By Terry Savage on October 22, 2018 | Investments

Terry- I have a modest IRA through my company that I pay into and my employer matches. Retirement is about 10 years out. What is a wise course in terms of reducing losses assuming a downturn is coming. I need to build up my retirement but am worried about making contributions If I’m going to see losses and not have enough time to make it back! Help?! Better to divert it to a savings account? Money market?

Terry Says

Better to go 50/50 — then you can only be half wrong! Surely your IRA has a conservative choice – something like a “stable value fund” which is really a fixed rate insurance contract, or maybe a money market fund. Move some of the money into the more conservative choice. And if there isn’t one, then save additional money outside your company plan. Use a Roth IRA and open it at Fidelty or Vanguard, and just put it in a money market fund there.

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