Recession and retirement

[DCJenn]

I figure we have 25 more years until retirement so everything is staying right where it is. I always look at these dips as opportunity to get more bang for the buck with the retirement plans.

Jenn

[Sheherezade]

Re: Recession and retirement

Good question. I agree that recession can bring good "buys" but I'm not sure if it is wise to sit in funds you know are going down. You could always switch to more stable funds and still snap up good buys after the fall in more risky funds. Right? Maybe I should watch more CNBC. :>

I recently read an article about 401K plans being required to offer free investment advice lines for participants. (Apparently, funds invested on the individual's ideas alone do 3% worse than those that receive some type of guidance from a professional....and the government thinks everyone should be able to access a professional now. ) Maybe you could make a call to your investment house and see what they are thinking? And....report back to all of us? :>

Re: Recession and retirement

Good advice from Jenn and Angie.

I think I would want to find out what makes up that aggressive portfolio -- how do they allocate it. Do they make changes to that allocation?

[migirl]

Re: Recession and retirement

My first instinct would be to let the money ride it out since retirement is so far off for us, but I just spoke with our financial advisor and he recommended selling off some funds and buying new ones based on the way the market's been going these days.

That's all I've got. :huh:

Re: Recession and retirement

I was thinking that we would ride it out (based on historic trends), but now I'm second guessing myself. :huh: Retirement is a long way off so we're pretty aggressive with our investments (about a 9 out of 10). So far, we've done very well but I should probably still check-in with the guy who manages our accounts.

Re: Recession and retirement

That is great your dad can help! You could also ask around for a referral to a financial planner who is familiar with those funds. Maybe?

Good luck. It is daunting, even more so when it is your nest egg but it is doable.

[Vishenka69]

Re: Recession and retirement

I want to change our allocation a bit (mine is split between 4 funds and DH's between 3), but after talking to some docs at work who got professional help allocating theirs, DH said we lost the least and only in the past few months. We we up at the end of the year. But like JennH said, most of us have 25+ years to go and by then everything will be up no matter what.