Seriously I was scanning the comments to find anyone mentioning this. It’s insane to leave your funds in stocks if you’re retired or close to retirement. That should have been shifted to bonds or other stable investments years ago.
What’s insane is expecting every individual to be person to know enough about financial asset classes to know how to balance risks in their portfolio, when we used to have pension plans with subject-matter experts whose job it was to do that. Getting rid of them was like throwing everybody overboard from the cruise ship (pension), but giving them a life jacket (401k).
I mean, it makes sense when you know that the decision was made by the sharks.
Seriously I was scanning the comments to find anyone mentioning this. It’s insane to leave your funds in stocks if you’re retired or close to retirement. That should have been shifted to bonds or other stable investments years ago.
What’s insane is expecting every individual to be person to know enough about financial asset classes to know how to balance risks in their portfolio, when we used to have pension plans with subject-matter experts whose job it was to do that. Getting rid of them was like throwing everybody overboard from the cruise ship (pension), but giving them a life jacket (401k).
I mean, it makes sense when you know that the decision was made by the sharks.