My Smart Retirement

Today, we’re opening up the mailbag and answering some retirement questions we get from our listeners and clients. George says he has all of his retirement savings in one IRA. Should he move some of that money elsewhere to be diversified? Since we don’t know how close George is to retirement and what his risk tolerance is we can’t give him a definite answer. Instead, what should he look at to determine the right move for him? You want to look at whether the IRA you are invested in is all in one stock or has some diversification inside the account. Do you have only one or two mutual funds? What is the size of the IRA? A smaller IRA has different diversification needs than a larger IRA. It is possible to be diversified within an IRA instead of rolling that money into a different account. Mark feels like he needs to reduce the risk in his portfolio, but he doesn’t know where to turn. He’s looked at bonds, annuities, and even cash. But all of these options have drawbacks he doesn’t like. Unfortunately, there is n