Asset allocation at age 70
I read an article in the USA Today saying that the 60/40 stocks:bonds asset allocation is back in favor. I am 70 years old, just starting to collect Social Security, and have a pension . What would be my recommended asset allocation at this time? Thank you!
Terry Says
Your exposure to stocks and bonds should be enough to let you sleep well at night. So I add a third category — “chicken money” — which is defined as money “you can’t afford to lose”! That money belongs in short-term bank CDs or money market accounts, or Treasury bills.
How much chicken money depends on your entire financial situation, your income and costs coverage from your pension and SS, and your own personal risk tolerance. This would be a good time to review your situation with a financial advisor who is a FEE-ONLY FIDUCIARY — one who is not trying to sell you something!
Here’s how to find that person — the only way I can be sure you will be well taken care of. Read this: https://www.terrysavage.com/pam-krueger-wealthramp/
