The Moneyist
‘I own my home and I have no debt’
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Dear Quentin,
The S&P 500 seems to be doing particularly well. Is this a good time to park some money in S&P 500 SPX index funds — and let it ride for about five to seven years? For context, I do have other funds to live on. I own my home and I have no debt. I’m a healthy 66-year-old woman. I consulted with my financial adviser at a major brokerage firm, and she said yes.
I need to be cautious and at my age. I couldn’t handle a 40% drop because I wouldn’t have another 10-20 years to wait. I have 50% of my portfolio in the S&P 500. Thanks for your input. Of course, my adviser is not likely to say no since she wants me to keep my money invested. Any reasonable advice would be greatly appreciated.