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). 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!
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Yeah, you're at the age where you have to minimize the risk to the portfolio. IMO, with these wild swings we're seeing in a scared market, well, it isn't worth taking the chance of another 2008.