Managed account or pull out
I am retired. I have 200k in an IRA and 100k invested both managed by Morgan Stanley since my attempts at managing we’re unsuccessful. I need to draw about $500/mo to maintain my 10k emergency savings.
My question is should I pull my $100k of personal investment account and put it in the bank or ride this out trusting Morgan Stanley?
Terry Says
I wish I knew how your account is invested. You need to discuss this with your Morgan Stanley advisor. But if you dont have any safe money in the bank, even at this stage of the decline I think you should pull 25% of the personal account out and put the money in the bank. Take it evenly from stock and bond funds. It could be quite a while before the market comes back, and meanwhile you’ll sleep better.
