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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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According to my CFP advisor, the rule of thumb for investments is to consider your age which takes into account the possibility of a crash. Based on 100, if you are 70 then 70% of your $ should be in as safe a place as possible (money markets, bank, etc). The other 30% can be in stocks, bonds and other more volatile choices. A correction will typically happen often, although a true crash takes years to recover which is why the rule of thumb seems to work.