What to do with 401k after retiring
Terry, just retired in June and have approx 1 mil in a guaranteed fund earning about 3.23 %. I’m 66 and not a risk taker and don’t use an advisor. What would you recommend I do?
Terry Says
Please read this article: https://www.terrysavage.com/rollover-now/
This is a good time to move into a low-cost mutual fund company that offers a wider choice of investment opportunities.
The trick is to avoid an “advisor” that wants to charge one percent — or more — of assets for advising you!
You’re only 66 — and inflation will take its toll on “chicken money” over the years. So you should have some portion of your funds invested in a consevative stock fund — perhaps an equity/income fund.
Or have a meeting with a FEE-ONLY FIDUCIARY advisor who can look over your entire retiremetn income plan, as well as your investment portfolio, giving unbiased and overall advice — ranging from your need for an estate plan, perhaps long-term care insurance, and the tax perspective. For that, read this: https://www.terrysavage.com/pam-krueger-wealthramp/
