First off, Good luck in this market. If you were invested in 100% in stocks then you have done well. You did not state if you are retired or working full or part time. You just stated info about a account you have with a former employer. Now you may be getting nervous with the S&P and the Dow reaching new highs. Like someone else said you cannot time the market's ups and downs.
1st, I would recommend getting out of your 403B. Transfer your account into a low cost fund manager like Vanguard, Fidelity, or Charles Schwab. I just happened to choose Charles Schwab because they are local and I can meet face to face with a financial adviser when ever I want. Charles Schwab also has a ROBO Adviser which will maintain your % of invested portfolio. When I worked I was invested 100% in stocks because every week I was depositing dollars in my 401K. Right now I am invested 52% stocks 36% bonds and 12% cash in a money market. That's how Schwab's ROBO Adviser has me invested, a very low cost computer generated method of managing your account. Some other advisers want 1.25% annually to manage your account. To me that's highway robbery. They state, they try to outperform the S&P 500.
2nd, everyone's personal situation is different. Are you collecting a pension? Are you just collecting Social security? Are you withdrawing money our of your 403B every month to live on??
So to answer your question, No, I would not pull all of your money out of the stock market and place it in a MM account. I know someone who did just that in a panic right after the pandemic hit and the market dropped 25% or more. They missed out on the come back because they did not know when to get back in. Just remember it is extremely difficult / impossible to time the market. Stocks go up and stocks go down. Try and discuss your personal situation with a good financial advisor who will guide you based on your age and financial needs. Best of Luck, invest wisely.
|