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Personal Finance and Investing

Fiendish Thingy

(18,510 posts)

13. Get a good advisor (fee for service, not commission) and tell them your goals/needs

Reply to SheltieLover (Original post)

Thu Jul 30, 2020, 08:21 PM

Jul 2020

A diversified, balanced portfolio will withstand the volatility of the market.

We just retired this past year; our portfolio weathered the crashes of 87, 01, and 08.

When the Dow was down 30% in March/April, ours was down just 4-5%. Now it’s up 11% YOY.

With interest rates near zero, CD’s are unlikely to beat inflation unless you’re willling to lock up your money for 5+ years, and even then that’s a maybe.

Seriously, talk to a trusted advisor who doesn’t work on commission and can offer you a wide range of products, not just in house funds.

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401k question [View all] SheltieLover Jul 2020 OP

Not CDs now. Interest rates are at historic lows. Look into money market funds, ETFs, index funds. brush Jul 2020 #1

Yes, but SheltieLover Jul 2020 #3

Instead of one or the other, think in terms of balancing your portfolio with a portion in CD's nt Shermann Jul 2020 #5

Tyvvvvm! SheltieLover Jul 2020 #8

TYVM! SheltieLover Aug 2020 #27

It will be OK. Trump is the self-proclaimed Debt King. We've got lots and lots of debt progree Aug 2020 #28

Im sure SheltieLover Aug 2020 #29

You have a bigger risk of running out of money in retirement than losing it in the market Fiendish Thingy Jul 2020 #14

As are money market funds. And are easily available. With CD I think you may have to pay question everything Aug 2020 #26

What are your timeframes? Shermann Jul 2020 #2

I was thinking SheltieLover Jul 2020 #4

That might be wise to see what shakes out after the trump debacle is over. brush Jul 2020 #6

Tyvvvvm! SheltieLover Jul 2020 #7

My broker said that it was better to wait until things shake out until after the elections SWBTATTReg Jul 2020 #9

Tyvvvvm! SheltieLover Jul 2020 #11

I'm sure there is a target retirement fund option brokephibroke Jul 2020 #10

Thx so much! SheltieLover Jul 2020 #12

Target funds UrbScotty Jul 2020 #15

TY For explaining! SheltieLover Jul 2020 #18

Get a good advisor (fee for service, not commission) and tell them your goals/needs Fiendish Thingy Jul 2020 #13

Ty so much! SheltieLover Jul 2020 #19

I've been trying to find one of those, a bit of a challenge. JudyM Jul 2020 #22

It Often depends on how much you have to invest Fiendish Thingy Jul 2020 #23

Thanks.The ones I've contacted all want the money moved to their institution, don't want to do that. JudyM Jul 2020 #24

Ah, I see. Then yes, you may have a harder time finding someone. Nt Fiendish Thingy Jul 2020 #25

Wise words from my financial adviser... BigmanPigman Jul 2020 #16

Same boat brokephibroke Jul 2020 #17

Absolutely! SheltieLover Jul 2020 #21

I'm looking at SheltieLover Jul 2020 #20

The only thing I will add is to point out that trying to time the market PoindexterOglethorpe Aug 2020 #30

Thank you! SheltieLover Aug 2020 #31