USER QUESTION:My Husband and I are both retired. We both have 401k's. They are invested in stocks and bonds. What should we do, or more correctly what can we do???? Thank You!!! EXPERT ANSWER:Your question is valid and affects millions today. Review your allocation to stocks and bonds and see what kind of allocation you really have. It may be that you have greater flexibility in an IRA instead of leaving your money in a 401k. There is no tax consequence to change it to your own IRA. If you are withdrawing money from your accounts to live on, consider changing your investments so you will not be drawing on any stock investments for at least the next 2 years. Place these funds in a portion of your account that has no-risk. As markets have increases, keep refreshing the 2 year amount in your no-risk investment from which to draw income.
Kevin Blood, CFP®, ChFC, CLU
President & CEO
Capital Wealth Management, Inc.
http://www.capitalwealthmanagement.com/ Kevin@capitalwealthmanagement.com NOW IT'S YOUR TURN! GOT A FOLLOW-UP QUESTION, OR DO YOU HAVE ADDITIONAL ADVICE?
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