As the title says, 40% of my dads 401k is in his company’s stock. He has about $530k in the 401k and about $200k is in the stocks. I’m not sure what the other $330k is invested in. He is also contributing about 14% including a company match into his 401k.
He doesn’t want to move funds because last year the stock took a hit and he wants to wait to recoup that money. I tried to tell him that with his relatively short time horizon he should cut his losses. But he knows he really should.
I should also mention that he is 52 and wants to retire in the next 8-10 years. When he retires, he will have a $3000/month pension and I’m assuming his social security will be between $1500-$2000/month.
The 401k is with Fidelity. At his age and amount of time before retirement, what is an example of what his portfolio should look like? And what can I say to him about his asset allocation?
Thanks for any help ahead of time!
Submitted April 22, 2019 at 10:21AM by SlickWilly8 http://bit.ly/2GyulC9
