Older Investors Are Asking: Should I Get Out of Stocks?

Older Investors Are Asking: Should I Get Out of Stocks?
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Carrie Schwab-Pomerantz
Updated:

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.

Carrie Schwab-Pomerantz
Carrie Schwab-Pomerantz
Author
Carrie Schwab-Pomerantz, a certified financial planner, is president of the Charles Schwab Foundation and author of "The Charles Schwab Guide to Finances After Fifty."
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