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IRA — Terry: Sell Half!

By Terry Savage on June 14, 2022 | Investments

My husband and I retired 6 years ago and now the market is killing us we are in our 70s and are down to 390,000 we were at 500,000 my husband will not takeout money in case the market crashes. It is in a Ira ir something else I really don’t know. If you can pleas help.

Terry Says

Immediately move HALF of your money to a Money Market Fund INSIDE the IRA! Do NOT take the money OUT of the IRA. But don’t be frozen into fear either. Just contact your IRA custodian and tell them to evenly divide all your investments in half, and sell half of each position and put the money in a money market fund. That way when the market recovers, you’ll still have some investments. And if you have to take RMDs you’ll have plenty of cash and won’t have to sell anything at lower prices if the market drops further (which I think it will).
And you should be able to sleep better at night!

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