Quote:
Originally Posted by Wallymo
I'm 53, and had all my retirement in Schwab's "retirement 2035" account. My son is a business major and went over the individual investments that make up the retirement 2025 account. Turns out that 18% of my retirement investment was in bonds.
At my son's recommendation, I changed my allocation to 100% in Vanguard Institutional Index I ("VINIX"), which tracks the S&P 500.
It's a few days later, and I'm a bit nervous. I've read this string for years, but don't post on it as I don't have the disposable income to make trades for singular stocks. Any advice from the group here? Do you think it was the correct choice? You guys have such a deeper knowledge base than I do. My goal is to have my current account double twice in the next 15 years (which would be boosted by my yearly contribution of ~$30k). That should hopefully be enough for my and my wife's retirement. Based on family history, I'm likely to die before I hit 75 but my wife will live to be 100.
Thanks in advance!
|
Is this a 401k?
If so then Schwab should let you adjust for your risk tolerance within your 2035 account. I've got a similar 401k through Vanguard and can adjust the risk levers, which is % going into stocks vs bonds. Thus shifting more towards safer investments as you get closer