We retired a few months ago. We have about $300,000 in IRAs from our 401K. We are pretty much debt free (no mortgage, no car payments, we pay off our credit card each month, etc). We are living on our SS income of $2200 per month and take about $10,000 per year out of our IRA for extra expenses like house taxes and home & auto insurance, medical expenses not covered by insurance, home and car repairs and traveling. Our SS income covers our basic expenses with a couple hundred left over each month. We live very frugally, but comfortably.
We saw our investments drop in half during the last recession, which would be very hard for us at this time. We do not have 15 years to wait for it to go back up. How can we protect that $300,000? I thought about taking $200,000 and just putting it into a basic savings account or money market account, leaving $100,000 invested. We currently have all our savings in 2 target retirement funds, one with Vanguard, one with Fidelity. They seem pretty secure, but I am nervous. We both have health issues and going back to work would be a challenge. Any advice on how to preserve this money until the recession passes would be much appreciate. Right now, preservation is probably more important than growth, although at some point we need to keep up with inflation. Thanks for any help!
Submitted August 19, 2019 at 08:18PM by CuriousCatte https://ift.tt/2Pep60O
