Dear Carrie: I’m 70, and like a lot of older investors, I was still heavily invested in the stock market when this economy hit dangerous territory. At this stage of life, I don’t have a lot of time to “make it back” in the market. What’s the best plan for selling off stocks and moving into more secure savings?—A Reader
Dear Reader: The last several months have been a whipsaw for a lot of people. And even though the market has largely recovered from the sharp drawdown when the pandemic hit (at least for now), many investors are worried about how best to protect themselves if and when it happens again. Those worries can be even greater for older investors who are close to or in retirement. At this point, the money you’ve accumulated isn’t just a number related to a future goal; it’s what you need to live on now.