Quote:
Originally Posted by cmyx6go
I put a big chunk of my 401K into guaranteed interest or what ever they call it. I’m too old to be losing half if the market tanks. Left some in plus future contributions to play with.
|
I learned that lesson in 2008, watching some of my racing buddies who took an early retirement have to sell their toys and get McJobs because their retirement accounts took a big hit.
My employer has a super-generous 12% match for my 5% retirement contribution. Taking a lesson from a gambler friend of mine, I put my 5% into a guaranteed interest thingy, and put my employer's 12% (aka: playing with the house's money) into riskier non-guaranteed equities and real estate. Peace of mind that my money is 100% safe, with a guaranteed minimum 3% return every year.....