Safe harbor for your money
Hi Terry,
My wife and I are retired for the most part. We still work a little part time. We have a fair amount of money in our retirement accounts that we pay a firm a management fee. We lean towards being conservative but even that concerns me with the bond market. We are probably 60/40 bonds to equities. What would be your recommendation to move to a safe area? Thanks in advance for your time and consideration. We both enjoy reading your news letters!
Terry Says
Here’s a link to my most recent column: Sell Down to the Sleeping Point. I can’t give specific advice because I don’t know enough about your financial plan — and what other savings you have besides these investments. I do know that you will sleep better if you have some cash in your retirement accounts so you aren’t forced to sell at a loss to take Required Minimum Distributions. You can always keep a portion in a money market mutual fund inside your IRA or retirement account. And your “management firm” should not charge a fee on those risk-free assets.
