Ask Terry Questions What to do with 401k after retiring

What to do with 401k after retiring

By Terry Savage on November 30, 2023 | Financial Planning / Retirement

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:

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:



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