Ask Terry Questions Safe harbor for your money

Safe harbor for your money

By Terry Savage on August 14, 2019 | Financial Planning / Retirement

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.

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