I am looking at retirement near age 67. With roughly 30 years to go and perhaps $400 a month to invest, would high reward/risk make sense?

Asked by Ron

1 Answer

Log in or sign up with email
By submitting you agree to our Terms of Service
Answered by Pamela J. Horack, , CFP®PRO+ in Lake Wylie, SC
Hi Ron! Here are some quick numbers: If you invest $400/month ($4800/year) at 10% for 30 years, you would have $904,195 at retirement.. Some questions to ask yourself would be: Will $900K be enough to last me through retirement? What other retirement income do I have outside of Social Security? Can I afford to invest more more? How about as I get older? Can I afford to lose 40% of my total investment if the market takes a downturn?

Saving for retirement will make you wrestle with some tough questions. A high risk/reward portfolio may sound good, but can bite you in a down market. Check with a fee-only planner to run more detailed numbers and help detail a plan that fits your investment comfort level. | 09.09.15 @ 18:26
Comment
Log in or sign up with email
By submitting you agree to our Terms of Service
$commenter.renderDisplayableName() — {comment} | 12.09.16 @ 13:35
Log in or sign up with email
By submitting you agree to our Terms of Service
Free MoneyTips Membership!

Get FREE, full access to MoneyTips.com

Answered by

Related Questions