getting out of the market
I’ve written you before. I’m 75 going on 76. Since the market’s high this year, my investment portfolio is down by 1/3 – almost $700k. I don’t have the years left to wait for a market recovery and I can’t afford to lose that kind of money. I want to wait until the market recovers somewhat, so I get back some of my losses, but I’m thinking of getting out of the market completely once I gain lost ground. Your thoughts?
Terry Says
You may not regain that money in your lifetime! I would concentrate on protecting what you have left.
Given your concerns, I would sell ALL bond funds, and that should raise enough money to have about half left in the stock market. If you’re still worried, sell some stock funds too. Put the cash in a government securities Money Market fund.
And don’t look back. There’s an old saying: “Only losers worry about getting even!”
