Financial Focus with Robert
Q. Robert, I am 61 years old and worried about my 401K. My account has finally recovered from the 2008 market crash. I plan on retiring in 1 to 2 years, depending on how my health insurance goes with my current employer. The question I have is this, what can I do to protect against another stock market correction between now and when I retire? – Ted in High Point
A. Ted, your concerns are very much justified. The market is at an all-time high and the probability of having a correction in the next 12 to 24 months is also extremely high. The last thing you want at retirement is to be stressed out over your investments.
At this time, there are several things you can do. You can shift part of the money in your 401K to the most conservative positions that are offered inside your 401K plan. Since every account is different, your options may or may not be limited. Another option you have is to roll money out of your 401K while you are still working. 95% of plans allow for this if you are older than 59 and a half. You could then set up an IRA with little or no risk using all of your money or just a part of it. Doing it this way you are more in control of your retirement account.
Seminar Dates – August 14 & 19
Outwest Steakhouse at 6:00pm
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Robert Cooper
CRPC, RFC Registered Investment Advisor Representative / Providing Financial Planning Services in the Triad for Over 20 Years
336-993-2012 • www.coopercares.com
935-E Mountain St., Kernersville, NC 27284
Investment Advisory Services Offered Through Global Financial Private Capital, LLC, an SEC Registered Investment Advisor.
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If you would like a complimentary one-on-one consultation please contact our office at 336-993-2012.
Any comments regarding safe and secure investments and guaranteed streams refer only to fixed insurance products. They do not refer, in any way to securities or investment advisory products. Insurance and Annuity product guarantees are subject to the claims paying ability of the issuing company, and are not offered by Global Financial Private Capital.