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Retirement Discussions / Retired Fools
|Subject: Re: Managing retirement savings?||Date: 3/21/2013 5:13 PM|
|Author: TheTortoise||Number: 18305 of 20157|
I am considering moving the 457 plan money to a whole term life insurance policy and moving the money from the savings account to gold. Are these smart decisions? What do you think is my best course of action?
I wholeheartedly agree with the posters in this thread who think the investment possibilities you mentioned for your retirement nest egg are a bad idea. I have another suggestion you might want to consider.
I think most here would agree that Vanguard is an investment company which can generally be trusted. They offer a family of retirement funds for people who know very little about investing called Target Retirement Funds, including a specific fund for those already retired -- the Vanguard Target Retirement Income Fund.
You would buy just one fund -- and Vanguard would take over the investment decisions for you.
Within the fund, Vanguard would allocate your money among a number of index funds containing U.S. and international stocks, bonds, U.S. Treasury inflation-protected securities, and cash. The most conservative allocation is for those already in retirement -- with the goal of controlling risk so you can sleep at night.
And Vanguard is famous for having very low expenses.
Morningstar gives this fund its highest rating -- 5-star.
P.S. I don ‘t own this fund--or any mutual fund--because I enjoy doing my own investing. But it sure is a lot of work ... like having a part-time job.
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