Non ZbZj financial advice needed..

[Casinoguy13]

Rebalance the portfolio and go 50/50 stocks and bonds. Look at ur accounts and if ur paying a wrap fee and u own mutual funds in there make sure they are institutional share class and not just a shares. Look them up and see if there is a 12b-1 fee ( look the find up on yahoo finance). If there is pull the account and go somewheee else and tell them u want 50/50 account with etfs for equities and institutional share classes for the bonds. It’s not enough money to do something else with.

thus is not advice this is just what I would do in this situation.

ETF’s have higher expense ratios than mutual funds. Also, 12b-1 fees are included in the expense ratio. So all that matters is the net expense ratio.

[BJGenius007]

This is horrible advice. Sell your stocks in bear market?!?!? The goal is to buy low and sell high. Not the other way around. The intelligent investor buys from the pessimist and sells to the optimist. This is the time you want to be holding stock. It’s too late to sell.

Bear/bull market is only a small factor here. He is 80 years old. He should have most of his money in money market fund/cash and should be mortgage-free.

He should adjust his portfolio aggressively using every uptick day like today. We are likely to face bad news like more deaths and unemployed rate will jump to the highest level since world war II. Stock market will keep going down upon endless bad news in the next six months at least. Cash is crucial for all people, especially very old people.

[Casinoguy13]

Bear/bull market is only a small factor here. He is 80 years old. He should have most of his money in money market fund/cash and should be mortgage-free.

He should adjust his portfolio aggressively using every uptick day like today. We are likely to face bad news like more deaths and unemployed rate will jump to the highest level since world war II. Stock market will keep going down upon endless bad news in the next six months at least. Cash is crucial for all people, especially very old people.

I’d hope by that age he already has enough cash to out last any economic downturn without selling his equities. You’re most likely right things will get worse but it is still speculation. You never know what tomorrow’s news will bring. His beneficiaries can sell the house to pay off the mortgage and rollover shares in kind to their accounts. I would not advocate selling at this point in time unless he absolutely needs the cash to live on. If it’s going towards paying off his mortgage it doesn’t sound like he needs it right now.

[ZeeBabar]

I’d hope by that age he already has enough cash to out last any economic downturn without selling his equities. You’re most likely right things will get worse but it is still speculation. You never know what tomorrow’s news will bring. His beneficiaries can sell the house to pay off the mortgage and rollover shares in kind to their accounts. I would not advocate selling at this point in time unless he absolutely needs the cash to live on. If it’s going towards paying off his mortgage it doesn’t sound like he needs it right now.

I am 72. Advisor says don’t sell. Will be talking to her this morning.

[Eye of the Eagle]

You are 72 and in a prior statement you said you have a mortgage. Also you said you are going to take money from your BR and buy a little sports car. No wonder you are so mixed up. Can you not rationalize your predicament?

[ZeeBabar]

You are 72 and in a prior statement you said you have a mortgage. Also you said you are going to take money from your BR and buy a little sports car. No wonder you are so mixed up. Can you not rationalize your predicament?

All of that is irrelevant. My OP was what to do with about $79k, now down to $69k in an account with Edward Jones that is 65;35 in stocks. The fact that Zi might have spent $199,00o on a sports car is irrelevant.

[DSchles]

Leave everything alone. Don't touch anything.

Don

[ZeeBabar]

Leave everything alone. Don't touch anything.

Don

I just talked to my advisor. She said the same thing. The bonds in the bond market was down, she was going to move a few into more secure bonds, leave the stocks alone.

[DSchles]

I just talked to my advisor. She said the same thing. The bonds in the bond market was down, she was going to move a few into more secure bonds, leave the stocks alone.

Smart adviser!

P.S. As a very general rule of thumb, a person should have approximately 100-age as a percentage in stocks. So, that's 28% for you. I'm 73 and started the year with 30% in stocks. With the drop in the market, you're probably a bit higher than that right now, but when the market goes back up, it will readjust.

Just stay the course. And stay healthy!

Don

[ZeeBabar]

Smart adviser!

P.S. As a very general rule of thumb, a person should have approximately 100-age as a percentage in stocks. So, that's 28% for you. I'm 73 and started the year with 30% in stocks. With the drop in the market, you're probably a bit higher than that right now, but when the market goes back up, it will readjust.

Just stay the course. And stay healthy!

Don

Much thanks. The advisor has me now at 75:25 in stocks, so only 25%. She had changed it after my last meeting with her when I had mentioned my concerns. She suggested Zi stop looking at my account every week or month for a few months.

[Casinoguy13]

Much thanks. The advisor has me now at 75:25 in stocks, so only 25%. She had changed it after my last meeting with her when I had mentioned my concerns. She suggested Zi stop looking at my account every week or month for a few months.

She’s not worth the 1% fee. No one is. You shouldn’t have sold.

[ZeeBabar]

She’s not worth the 1% fee. No one is. You shouldn’t have sold.

She gets a fixed fee, does not increase or decrease with trades or sales.

[Ptc]

Hedge the stocks with covered put options? We’re a long way from the bottom.


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