ira/ira roth investments now
Terry:
My husband and I are 64 and 63 years old. Both working full time.
We have six ira and ira roth accounts that add up to 190,000
and a chicken fund of 35,000.
We don’t have money to loose and I am wondering what is best for us to do
in this down turn? Can we convert the money to cash for a time being or would we then
be responsible for taxes?
If so, what is the best alternative?
Thanks for your time, appreciate your advice!
Terry Says
You’re a bit late in moving some of your IRA investments to “chicken money” in the form of money market mutual funds.
Please read my latest column
https://www.terrysavage.com/the-stock-market-what-to-do-now/
The stock market is down about 15%. The column points out that bear markets can lose nearly half the value of the S&P 500 fund. So it’s not too late to move some money — not all of it — out of stocks and into MM funds. That will let you sleep at night!
