IRA fears
Hello Terry,
I am 72 years old, I have an IRA ( about $175,000.00 ) that has been loosing money monthly now.
I am not in any Conservative stocks. Should I have everything moved into all Conservative ?
I am really getting worried the way the economy is going.
Thank You
Terry Says
NOTHING is conservative these days! All stocks are getting hit by fears of recession. And all bonds are getting hit by fears of higher interest rates. The only thing you can do is sell some — not all –of your stocks and leave the money in a Money Market account INSIDE your IRA! That way, when you have to take a withdrawal this year — being age 72 — you won’t have to sell stocks during a future decline. We will eventually bounce back, but I don’t know from what low point.