Season 6

Lessons From a Wild Stock Market Week

Episode Notes

If you think that the stock market has been going through extreme positive and negative price swings over the past few weeks, you’re not imagining things.  When volatility occurs, however, it’s important to resist the urge and flee to safety. Remember that, over the long term,  stocks have delivered better long-term returns than bonds and cash. The question is: What percentage of your portfolio should be invested in stocks when you’re still saving for retirement or after you’ve retired? If you don’t feel that you have the knowledge or confidence to make these decisions on your own, consider seeking guidance from a fee-only fiduciary financial advisor.  .

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Directly rolling over a 401(k) plan to an IRA with a custodian like Fidelity, Schwab or Vanguard is something most people should do as soon as possible after they retire. Why? Because most 401(k) plan investment options are designed for people saving for retirement, rather than for those who need their nest egg to generate income to help pay for everyday expenses. Rollover IRAs offer access to a wider variety of investment options, many of which may have lower expenses than the funds in your 401(k) account. But since you may need money in your IRA to last 20 years or more, you may not feel confident making your own investment decisions. A low-cost robo-advisor can automatically invest your rollover IRA money but won’t be able to answer your questions or address your concerns. That’s why it may be worth paying more for the services of a fee-only fiduciary financial advisor. They not only can manage your investments but can come up with a comprehensive plan to address the financial opportunities and challenges you may face during retirement. 

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Podcast Hosts

Pam Krueger

Pam Krueger

Terry Savage

Terry Savage

Richard-Eisenberg

Richard Eisenberg

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