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I am getting ready to turn 50 and I would like to know what…

I am getting ready to...
I am getting ready to turn 50 and I would like to know what my stock / bond mix should be for my retirement account.
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Answered in 1 minute by:
3/14/2018
Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 14,872
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Hi. My name’s Lane …

I hold a law degree (J.D.), with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, to clients on three continents, since 1986.

I’m reading your question now.

Bear with me a moment while I type up my response.

….

Then if you have further questions we can go from there.

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Given that bonds go down when rates go up, you may not want ANY bonds in your portfolio. Those canned portfolios that show a certain amount on bonds in a portfolio based on years to retirement do a real disservice.

...

When rates have nowhere to go but up, I'd seriously recommend using a guaranteed interest contract or a money market as a proxy for bonds.

...

Further I'd need to know MUCH more about you, how mush you've saved for retirement, your tolerance for market risk, your income needs DURING retirement, etc. to make that recommendation

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DO me a favor and go here: https://www.calcxml.com/do/inv08

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Once that's done give me the results and we can go from there

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Customer reply replied 5 months ago
I am getting ready to turn 50 and I have a wife and 4 children. I have a 19 year old girl at the University of Virginia. I have a 17 year old son who is a junior in High School. I have a 14 year old daughter in 8th grade getting ready to go to High School and a 9 year old son in the third grade. I do a monthly network summary an I have saved a little over 1.2 Million. I own 14 rental properties that I own without any mortgages that produce about $120,000.00 a year in income. My wife is a Clinical Audiologist and made $65,000 last year and I own my own technology reselling company with me and a woman who works for me. I have about $200,000.00 in Vanguard and Betterment
Appreciate that, but still need a gauge re: risk tolerance, how long to retirement, how much income you plan to start taking from the portfolio, and again, starting when
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Given that this is not a private forum, this should be done via a private phone call .... where we can go much deeper, and as would be appropriate, confidentially
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Customer reply replied 5 months ago
I’m not ready for that. I guess I was looking for a simple answer. I am using my age subtracted from 120 to figure out my bond exposure. I have $120,000 a year that will come in from rents and that is more then enough to pay for my lifestyle. I only have one mortgage on my primary residence and the rate is 3.625 percent. I feel very well positioned

Agree with all of that EXCEPT the very misguided advice about bonds in a portfolio while rates are going up ... There are also OTHER system issues with the bond market right now.

...

My recommendation ... should you really want to go use one of those oversimplified models, with bonds in this environment, would be to replace the bond component with either a guaranteed interest contract, CD, VERY short term bonds, or cash. Once rates stabilize... THEN maybe look at bonds

Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 14,872
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified
Lane and 87 other Finance Specialists are ready to help you
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Thanks for that ... Here's an interest chart about what has happened to bond yields over the last 10 years (a different issue from what I was talking about ... how bond PRINCIPLE, price, goes down as rates go up) but informs in another way.

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Lane
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Lane, JD, CFP, MBA, CRPS
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