I am an experienced stock investor - but am looking for something to read which will guide me in how to invest my money when I retire. I will have, at that time, a pension, a trust, a 401(k), Social Security (and I might decide to work also). More than likely, I'll roll over my 401(k) into an IRA - but where do I go from there?
Good luck with this one. I have ask the same question here. No answer yet. Have a great day. Saml.
You might decide to work???? It seems to me that you have the knowledge to invest your money wisely!!! You have the resources that you have accumulated, except for the trust, and that is like money from heaven, but to sum it up why do you need to read a book on what to do when you retire. I know one thing that life is short and then comes darkness!!!!enjoy your stash, but most of all enjoy your life!!!!don't work!!!!
Since you're an experienced stock investor, and I assume successful, you probably need little advice as far as where to put your money. However, I'll give you some tidbits. Most people around here suggest 3-5 years living expenses in cash/cash equivalants and invest the rest in stocks. That way, you've got the money available and no need to sell in a market downturn for living. Might want to read "You've Earned It, Don't Loose It" by Suze Orman. Has more to do with Estate Planning, etc, but worth the while.JLC
I think, if I'm reading Nisko correctly, what he is saying is, it would be nice to have a few old dudes, like myself, to discuss how they invest their post-retirement moneys, in that pre-retirement investing is somewhat different from post-retirement investing. Maybe we need to create a new board!!?? Have a great day. Saml.
In 'Fools of a Feather' there is a 'Retired Fools' board which would be an excellent place to post or look for this kind of discussion.Hope you find it and like it,Helter
<<<...to discuss how they invest their post-retirement moneys, in that pre-retirement investing is somewhat different from post-retirement investing. >>>With retirement coming at earlier and earlier ages, or lifespans increasing, I think pre and post retirement investing is a moot question. Considering inflation over long periods of time, the only way to keep or increase your buying power is to invest in stocks. Outside of withholding a living expenses stash, there should be little difference in styles. What ever you were tolerant of before risk wise, you should still be the same after retirement. Otherwise, you'd be changing horses in mid-stream, not dancing with the one that brought you, (insert other appropriate cliches here). All of course IMHO.JLC
Actually, JLC, I disagree.The difference between investing BEFORE and AFTER the day of retirement is that BEFORE, you are regularly making more investments, and AFTER, you are regularly withdrawing from the portfolio.BEFORE retirement, it makes sense to be buying "risky" assets that are sometimes high and sometimes low, since due to the magic of dollar-cost-averaging you'll get more for your money.AFTER retirement, it makes sense to withdraw from "safe" assets that are stable value so you're not forced to withdraw during a temporary downturn. The "bond/CD ladder" method I've seen discussed here is one way to do that.
helter---- Thanks for the tip on the "Retired Fools" board. I'll check it out. jrr7------ I agree. Well said. Have a great day. Smal.
helter---- Thanks for the tip on the "Retired Fools" board. I'll check it out. jrr7------ I agree. Well said. Have a great day. Saml.
Sorry 'bout that double-post screw up. Won't happen again. Have a great day. Saml.
I'll conceed the point about adding money AFTER retirement. However, I think we have a miscommunication about withdrawls/investments. You make a good point about withdrawing from "safe" assets, that is what I meant about having X number years living expenses. My point about the "risky" assets is that the screens you chose BEFORE retirement shouldn't necessarily change AFTER. If you were comfortable with them and understood them BEFORE retirement, why should you become uncomfortable AFTER? If that's the case, maybe you shouldn't be picking those screens to start with.JLC
Let me put it this way. I tend to look at investing kinda like flying an airplane. When you're sitting on the runway getting ready for take-off, you give her full throttle and let 'er rip until you get to a predetermined altitude, then you throttle back and put 'er on cruise control, so to speak. I don't think one should keep a portfolio of full throttle AFTER retirement. You might blow the engine and that would make for a bad day, at a bad time. Have a great day. Saml.
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