So much has changed since this discussion started!
Kind of an update...
Back in September, my advisor said that if he were in my shoes, he would pull everything out of riskier situations, and go for guaranteed returns. Although it is less return overall, I don't have the 15-30 years to ride out stock market fluctuations.
So, I pulled out of the stock market and put it all into more sedentary options....exactly one week before the market collapse! Bill saved me thousands with that advice!
Trisinger, You are so lucky. Our advisor kept saying we were okay, as the balance kept going down. Now, I can only hope it goes up again. We only have so much time left. At 70, we have been living on our retirement income, saving the stocks and bonds for "later". Now, I know better.
We have our cremations all pre-paid. That's done! We live on my SS, his small pension, a lilttle from my 401K which is now an IRA, and dividends/interest from a joint account. We have never touched his SS. It's in a savings acct. and we use that $$ for trips and household repairs, etc. We lost quite a bit these last 2-3 weeks. Hope we can make some of it back. If it goes back up at all, I'm going to have our advisor sell the stock. We have some bonds and they are ok. This is getting nerve wracking. Wish it would just go away, but wishing won't make it so.
Trisinger, I have wondered many many times what your advisor told you about my information I offered to you. Never heard back on that. Would you update me? I am interested in what he said.