Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Personal Finance and Investing

BigmanPigman

(51,584 posts)

16. Wise words from my financial adviser...

Reply to SheltieLover (Original post)

Thu Jul 30, 2020, 10:06 PM

Jul 2020

Don't put all your eggs in one basket...diversify! (my dad was my advisor). He managed my money without greed but with security and low risk in mind. He said to keep everything as it is during tRump's ups and downs with the economy. It is too crazy to move money around. I don't make a bundle but I also don't lose a bundle either. He passed away a year ago and I am keeping everything as it was as far as investments go. I only need to go a little while longer so I should be OK, unless the ACA is killed. If that happens all my savings and assets are history.

Edit history

Please sign in to view edit histories.

31 replies

= new reply since forum marked as read

Highlight:

401k question [View all] SheltieLover Jul 2020 OP

Not CDs now. Interest rates are at historic lows. Look into money market funds, ETFs, index funds. brush Jul 2020 #1

Yes, but SheltieLover Jul 2020 #3

Instead of one or the other, think in terms of balancing your portfolio with a portion in CD's nt Shermann Jul 2020 #5

Tyvvvvm! SheltieLover Jul 2020 #8

TYVM! SheltieLover Aug 2020 #27

It will be OK. Trump is the self-proclaimed Debt King. We've got lots and lots of debt progree Aug 2020 #28

Im sure SheltieLover Aug 2020 #29

You have a bigger risk of running out of money in retirement than losing it in the market Fiendish Thingy Jul 2020 #14

As are money market funds. And are easily available. With CD I think you may have to pay question everything Aug 2020 #26

What are your timeframes? Shermann Jul 2020 #2

I was thinking SheltieLover Jul 2020 #4

That might be wise to see what shakes out after the trump debacle is over. brush Jul 2020 #6

Tyvvvvm! SheltieLover Jul 2020 #7

My broker said that it was better to wait until things shake out until after the elections SWBTATTReg Jul 2020 #9

Tyvvvvm! SheltieLover Jul 2020 #11

I'm sure there is a target retirement fund option brokephibroke Jul 2020 #10

Thx so much! SheltieLover Jul 2020 #12

Target funds UrbScotty Jul 2020 #15

TY For explaining! SheltieLover Jul 2020 #18

Get a good advisor (fee for service, not commission) and tell them your goals/needs Fiendish Thingy Jul 2020 #13

Ty so much! SheltieLover Jul 2020 #19

I've been trying to find one of those, a bit of a challenge. JudyM Jul 2020 #22

It Often depends on how much you have to invest Fiendish Thingy Jul 2020 #23

Thanks.The ones I've contacted all want the money moved to their institution, don't want to do that. JudyM Jul 2020 #24

Ah, I see. Then yes, you may have a harder time finding someone. Nt Fiendish Thingy Jul 2020 #25

Wise words from my financial adviser... BigmanPigman Jul 2020 #16

Same boat brokephibroke Jul 2020 #17

Absolutely! SheltieLover Jul 2020 #21

I'm looking at SheltieLover Jul 2020 #20

The only thing I will add is to point out that trying to time the market PoindexterOglethorpe Aug 2020 #30

Thank you! SheltieLover Aug 2020 #31