Ask Terry Questions Retirement Funds

Retirement Funds

By Terry Savage on May 22, 2024 | Investments

At present we have just over $700,000 combined in our 401(k) and Roth retirement accounts. We are 65 and 61 years old, and both still working full-time. I find that I am now constantly watching the markets and worrying about losing big chunks of our funds when the market goes down. Our financial manager has moved things around so the funds don’t get hit as hard each time the market goes down, but it is still concerning. Is there anything else we can do now to protect those funds so we have them available when we actually do retire – probably 4-5 years from now.

Terry Says

That’s hard to answer without knowing how your retirement accounts are invested.  And without knowing how much you have saved OUTSIDE your retirement accounts.

How is your financial manager compensated — a flat fee, a percent of assets?  It’s hard to judge not knowing anything about your adviser and his/her motivations.

Here’s one suggestion — a one-time meeting with a fee-only, FIDUCIARY manager, to look at the entire preparation for your retirement — beyond just stock investing.  Find that person by reading this link.



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