Retirement savings investment
My husband and I are questioning whether or not this is the time to convert our portfolio from asset allocation to cash. We are concerned about the coming stock market correction. Our financial advisor encourages us to shift our equity position from 60% to 40% stock. Half of our money is already in annuities that we pay 3% on a year. We are 63 and 67. We have no LTC insurance and are counting on this $$$ to see us thru.
Terry Says
Is your financial advisor a salesperson or a FIDUCIARY?? ASK! I can’t give you advice without knowing more about your situation, your spending needs and your work plans. You have many years ahead of you and should be continuing to save and invest at least a portion in the stock market — but only you (and your advisor) know your risk tolerance. If you don’t have a firm plan, you will likely panic and sell at just the wrong time!
Please to go to Wealthramp.com and get matched with a FIDUCIARY FEE-ONLY Financial Advisor you can trust. The first meeting is typically free. You’ll understand the difference once you have a meeting. Please don’t procrastinate!
