Retirement
Terry, I plan on Retiring at the end of June or early July 2025. I am concerned about taking the money from my 401k because of the current market swings. Should I leave the money in there or pull out the money? I’m concerned cause of the tariffs that President Trump is doing in case the market goes down again. Thank You for your advice on this.
Terry Says
Once you retir, you should do a direct rollover to Fidelity or Vanguard.
Read this for instructions: https://www.terrysavage.com/rollover-now/
There will be no tax due if you follow these instructions.
THEN, when they money gets to Fidelity or Vanguard, just tell them to put it in the government money market fund.
You probably should have at least 30% invested in the equity/income fund — a conservative choice.
But don’t take the money out and pay taxes on it until you really need it — or until you reach age 73, when you will be required to withdraw some money.
