Reported about 1 year ago
A 73-year-old investor is considering withdrawing money from a poorly performing 401(k) to invest in CDs for stability. A financial advisor advises against this due to potential tax implications and loss of growth opportunities. Instead, the advisor recommends maintaining a balance between stability and growth by keeping cash reserves, ensuring efficient investment strategies, and considering a rollover to an IRA for more control over investments. The key is to plan strategically to ensure retirement needs are met without sacrificing long-term financial security.
Source: YAHOO