Quote:
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.
|
There will be all kinds of conflicting advice. Gone are the days where you could build a portfolio of treasury bonds and they would pay the rate of inflation plus 2%. Last time I looked a 10 year treasury was paying 1.4% and the CPI (consumer price index) was 5%.
You pay your bills AFTER TAXES are TAKEN. Depending on your TOP TAX bracket you need to make 5% plus your top tax bracket TO BE EVEN.
Advisors? The first question to ask is how are they paid. As much as they seem to like you, they too need to earn money. Some, too many, are commission salesmen claiming to be financial advisors. Those pushing annuities. The reason is very simple, the commissions are put of sight. Twenty percent is normal. Realize what that means you give them say 10,000 and they promise you say 7%. REALITY they have 10,000 less 20%
commission so 8,000 need to earn $700.
I do not know you. I do not know what you have or what you need. I do not know what is in what they call an aggressive retirement portfolio. You can easily get reviews of that fund on places like Morningstar and or Seeking Alpha. In a 403B there are probably several options. You do not need to have all you have in one option.
Fortunately. Today we have easy access to far more information than in the past, just using your computer.
Anyone giving you information on this site. Ask their motive. You should not provide
sufficient information on a public site for anyone to give you proper guidance. The point of my post.