How much can my portfolio loose
I am 67 my husband is 68, we have recently retired. We both are collecting our Social Security. We will need at least an extra $2000 per month to meet our 2023 budget. We do not have a pension only what we have saved and from my 401K which has been invested through a non fiduciary financial planner. When totaling up our gains and losses from January to the end of October, we have lost at least $200,000.00. We did pull $56,000 into cash “chicken money”. We also bought $10,000 I bond in October. We have $1,125,500 .00 left as a portfolio balance.
Trying not to panic and stay the course but fearful of 2023, I ask myself how much more can I loose?
I guess i’m looking for a simple what % should be in growth and what % should be in stable recession proof funds.
Note we have no debt and have savings account cash available. We are a fan of yours and listen to your mid day report on Wednesday’s with John Williams on WGN. Thank you for your time and advice.
Terry Says
It’s been a tough year for retirees — since the S&P 500 stock index lost 20% and bonds had their worst year ever because of rising interest rates.
Making these investment decisions is now a much more emotional job. I suggest you set up one meeting with a fee-only FIDUCIARY financial planner you can trust. Find one through this link to Wealthramp.
It’s more than just the choice of investments. It’s about planning for your overall retirement income needs. For that you need someone who can look at your entire life situation. That’s why you should set up at least one meeting now and see what you’re missing!
