My stock portfolio at age 80
My wife and I are both approaching age 80. Our investment portfolio is primarily in stock mutual funds and approximately 2,500 shares of ORACLE Corp. the value of the total portfolio is approximately $580,000. Down 17.5% for the yr. Other than ORACLE, the portfolio is approximately 80% stock mutual funds. My question – do you feel I should reduce the stock portion of my mutual funds and if so by what %?? Thank you in advance for your advise.
Terry Says
Oh, my. Where were you when I was begging people in your situation to protect their profits, and move a good percentage to cash?! I don’t know your situation, and whether you think you’re going to need this money to live on in your later years, or if you are hoping to leave it to your children. And I don’t know if your money is inside an IRA. So it is difficult to decide.
In general, if you think you will need money in the next decade, (including RMDs, if it’s an IRA), then I do think you should move HALF of this money to a money market deposit account, and not look back at whatever happens in the future. I honestly don’t think the stock market decline is over at this point. And I don’t think you have a long enough time horizon to be so exposed to stocks.
