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there are lots of strategies for those close to or at retirement .it is just a matter of finding the route you like the best .
personal situation and temperament will be more of a factor than age or your proximity to retirement .
many retirees have pensions and they really are investing for heirs rather than supporting themselves ,so for them they can go pedal to the metal if they wanted to .
talking retirees really is a whole different ball game then talking about those in their accumulation stage .
the accumulation stage has but one goal .grow as much as we can over decades .
retirement has many many different goals , time frames for money and situations .
i found most fee only suck at the 2nd half of the game . they are either old school running on what are now old myths or their knowledge in modern retirement planning strategies is quite weak .
many are fee only because they lack the certification and training to handle other products or they would not be fee only .
so be careful here if you are looking for retirement strategies , fee only is no guaranty you will get up to date info as they do not get the same training in more modern strategies that are more comprehensive today and utilize more than just stocks and bonds .
after checking out quite a few fee only guys we ended up going with a commissioned fellow who was far more up to date and knowledgeable. we ended up buying our ny partnership plan for long term care from him , which we wanted to do anyway.
he was far more sophisticated than the others . he even had lifestyle planning software that hand tailored your draw rate based on when you wanted more money , like early on vs later when you are not traveling and doing as much . just learn your basics by reading the papers by someone like michael kitces , blanchett , milevsky ,etc so you have an idea as to how up to date they are .
so my advice is find the best guy you can and forget about how he is paid .
Last edited by mathjak107; 08-15-2017 at 04:35 AM..
I have remined aggressive for the past decade and that plan has paid off. I fully understand the best long term strategy for a 30 year retirement is to remain inequities for at least half of my money. But as I have said it's a lot easier to be aggressive when you are in your 50's and still have paychecks. Once I hit my number needed for retirement it would he very difficult not to pull way back and preserve that money.
I know it sounds weird but a part of me is kind of rooting for a bear market. We know it's coming, let's just get it over with already.
Risk averse people don't hang on generally no matter what the allocation when things crumble.
That may be true, but Wellington has only had 6 down years out of 46. That's as good as it gets. I think most people can handle that. If not, they should stay in savings accounts, CDs, and savings bonds.
Quote:
Originally Posted by mathjak107
but that was not the point of what i was saying .
my point is that you see people talk about falling x-percent in a down turn . but they fail to realize many times the level you fall to is a level you wouldn't even be at taking a more conservative route .
even with the 40% drop in 2008 , which didn't stick around long , you still would have been way a head of a more conservative path , ala my my contra vs wellesley comparison .
just something to keep in the back of one's mind when they think they are avoiding steep losses. it can be quite mind blowing when you look at something like that comparison and realize yeah ,you can fall a lot , but you can actually still be way ahead vs not doing it .
even a 1% difference over decades of time can be quite substantial in the long term and that provides plenty of cushion for the down turns ..
that is why even 100% equities in retirement has always had a very very high success rate . the up years more than make up for the down years so not having the weight of bonds provides a much higher cushion for the down years .
most of us all say we don't want the steep drops of 100% equity but we forget those drops tend to come from much higher levels .
of course i am not recommending everyone go 100% equities . but i am saying keep in mind the logic of what you do .
because our emotions play a large part in our actions with our money we tend to fall victim to doing a lot of things that really have no logical sense behind it and only serve to hurt us financially or cut our performance .
i always looked at investing as my money working for me while i work for my money . the same way i want to earn top market wage for what i do , i want my money to work and earn top market wage for what it does based on the criteria i feel is important to me at any point in time . that criteria can change as we do .. .
Yes, I get your point and I do agree. But my original response was tailored to the OP.
I have $150,000 I'd like to invest but have NO IDEA how to do it. Have never invested before and at this time, don't even know questions to ask a financial advisor.
Cryptos, tech startups, stocks, microcaps, affiliate marketing, etc.
Financial advisors are ok. They will try and sell you a mix of funds, but they should also go through your overall financial house to see how you are sitting. They are paid by commissions they receive from the funds they sell. It's not terrible, but realize you're talking to sales. Make them sing for their supper.
The biggest thing you need to know is what you want the money for. Will you need it yourself at some point? All at once or over time? Do you have sufficient income streams that will provide going forward? Will it most likely not be used by you and be inherited by your children or grandchildren?
These should be things to consider when speaking with the advisor and going through your position.
You're on to something BucFan. Up here in NC we don't even know which bathroom to use!
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