Frankly, I think you have NO idea what you’re doing. And since you’re working with a broker — who makes money by selling stuff to you — and NOT a FIDUCIARY financial advisor, I think your chances are less than 50/50 that you’re getting appropriate advice. Add to that the fact that you’re a recent widow and you have likely fallen prey to a situation that will cost you a LOT of money!
If you didn’t want to lose ANY money, most of it should have been left in the bank. Yes, you’d lose to inflation, but that should be a temporary situation. Now you are for sure losing in the stock market, which has fallen more than 20% on average since late February when you invested it — and the broker took his/her commissions! Giving a broker “permission” to lose at least 30% of your money is definitely not wise!
If you really watch me regularly you haven’t paid attention to my warnings or suggestions! Now I suggest that you immediately — first thing in the morning — ask for the CURRENT VALUE of your account. Do you have any idea of what you own — stocks, bonds, mutual funds?? You’re on email, so ask for the broker to email you a snapshot of your current holdings.
I can’t give advice blindly but I hope the broker kept at least 20% in a money market fund since this is all the money you have. If it is ALL in stocks/mutual funds/bonds then you know you’re dealing with someone who only cares about making money OFF you, not FOR you!!
Go to www.Wealthramp.com immediately and get matched with one of their FIDUCIARY fee-only financial advisors you can trust. Forward that list of your account holdings and get some advice you can trust!