how to diversify my investments
I’m 73. Still working part time. I have a 401k through my employer. I have about 1 million in investments. My main investment is a Vanguard Target 2020 fund. I know I need to change that. About $300,000 is a Roth. I have a small amount in Fidelity 500, and about $65,000 in separate investments. About $200,000 in 4% CD.s and about $70,000 in cash & savings. I am not sure how long I will continue to work. From that I get about $60,000 per year. What do I do?
Terry Says
You immediately consult with a FIDUCIARY fee-only financial advisor who is not trying to sell you anything! And the ONLY way I know that you can be matched with a carefully vetted advisor in this category is using Pam Krueger’s Wealthramp program. Please click on this link and watch the video.
I’d also ask you to read my latest column on my website: Taking Control of Your Money.
You should follow the instructions to rollover your 40l(k) to a place like Fidelity or Vanguard, where you can move some money out of the stock market, while keeping it tax-sheltered inside your retirement account. Details in the article. Please don’t delay!
And since you’re already 73, your 40l(k) custodian might require you to take your required minimum distribution before doing the rollover.
