Ask Terry Questions Staying in the stock market at our age??

Staying in the stock market at our age??

By Terry Savage on September 05, 2023 | Financial Planning / Retirement

Hi Terry…Love hearing you on WGN, so informative, I have learned so much from you! You’re awesome!!!
Per your advice….I have gotten IBonds and t notes. But my question is….my husband and I are approaching 75,
he has a 401k with Morgan Stanley, I have one with Ben Edwards. Should we get out of the stock market at our age?
I’ve always HATED the roller coaster ride! There’s an ad on WGN that suggests some kind of annuity instead. I totally trust you and your knowledge, please, please advise us! Also…do you manage peoples money like a
Morgan Stanley or Ben Edwards does?? Thank you so much! MJ xoxo

Terry Says

Oh nonono! Don’t fall for those annuity ads. But it’s perfectly reasonable to scale back your stock market exposure to far less at this stage of life. I’d say about 30% is reasonable — unless you have lots of money to live on and plan to leave all the rest to your family.

I don’t do individual financial or investment counseling. But I DO think you need to hear another voice — not from a commissioned broker. I urge you to get matched with a FEE-ONLY, FIDUCIARY advisor through Wealthramp.
Read this link to understand how it works. YOu don’t have to DO anything — just have that first conversation, which will cover your entire financial plan for income and security in retirement.

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