Ask Terry Questions Fixed Index funds

Fixed Index funds

By Terry Savage on August 27, 2015 | Financial Planning / Retirement

Heading into Retirement this year and want to change investment strategy to create ” safe money” from my 401K to a fixed indexed fund. How do I select one that is right for me – in my 50’s, married, with a mortgage.
Guarantee % , Bonus offerings, term ( 6-16 years) and 0 fees.

Terry Says:  Wait, wait, wait.  I think you have a bunch of things confused — and need some overall guidance.  What you seem to be talking about is an indexed annuity, something I rarely recommend.  (It only makes the broker wealthy!)  And how on earth can you be heading into retirement in your 50s, with still a mortgage??  That’s a recipe for disaster.  You might be retiring from your current job, but you still need to plan on earning an income at least until you reach full retirement age for Social Security, which will be 67 for you!

I think you need a financial planner to give you the BIG picture.  I can’t do that without knowing a lot more details.  But I’m going to suggest a “fee-only” planner, who is not trying to sell you anything. The first meeting should be free, just to get a sense of each other, and an overall direction.  Go to to search for a financial planner near you — these are all CFPs, certified financial planners.

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