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Originally Posted by Becca9800
I'm absolutely ignorant when it comes to the stock market yet that's where all the money I have is nesting. It's in a 403b, encouraged and supported by my former employer. I'm w Lincoln Financial, with an Aggressive Retirement portfolio. I've not a clue. Please be kind now, I know I've been not too bright but I'm here now asking for your advice. So please be nice. I watch my value go up, and go down, YTD I'm up. It's all I have and it ain't much, I cannot afford to lose it in a crash. But I don't want to miss any gains either (greed, I know. It's a matter of knowing I'll need gain to be comfortable 10 years from now). I keep reading the market will crash soon and it frightens me. I need a financial guru to guide me. I've been to two advisors and received conflicting advice. Do I pull out or do I stay and run the gambit? What's an 'ol girl to do? Thanks so much in advance.
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Many good suggestions on how to learn about investing or finding an advisor. However, there may be an easy way to get reasonable advice.
A 403b account is an employer sponsored plan that was typically provided by health, education and governmental type employers. It is, or was, also known as a tax sheltered annuity and used to only be offered through annuity companies. Today, I think many or most 403b plans have both annuity companies (like Lincoln Financial) and mutual fund companies (like Vanguard and Fidelity) to choose from. Before you try and find a professional advisor (a great suggestion by the way) you might contact your HR department at your employer as they may have assistance available.
Annuities are not bad investment vehicles for some situations, but they are more expensive than using a straight low-cost mutual fund family like Vanguard or Fidelity. Some annuities do have the ability to limit the downside potential of market volatility and for some people, this might be attractive.
I would start with your employer and see if they have someone that can help explain the fundamentals that should be considered in your situation.
Good luck