What Should I Do Now?

On Saturday, I spent some time talking to a Police Officer. He mentioned that he knew his quarterly statement for his retirement account was going to arrive soon. He stated that he didn’t really want to open the envelope because he knew his balances would be down. I reminded him that every month he was buying his mutual fund shares at a lower price. This allowed him to buy more. While you are accumulating – lower share prices are good. More shares = more income in retirement. This is a good thing. The markets will ebb & flow. If you are still in the accumulation phase look upon the ebbs as a gift.

Here are some common questions I have been asked.  Please feel free to send me your questions.

Q: I have about $20,000 but may need to use it all in 12 months. Where is the best place to invest this?
A: For such a short period of time either a bank or mutual fund money markets are the best choice.

Q: I have a poorly performing pension plan that my employer will allow us to move. How do I do this?
A: You can do a trustee to trustee transfer into a self-directed IRA. This will allow you to move the full amount and pay no taxes on the transfer.