Q: I am almost 62 and about 5-8 years away from retirement. About half of my retirement funds are in my employer-sponsored 401(k) with limited investment options. The other half is in IRAs with Fidelity. As I get closer to retirement, what kinds of mutual funds should I be moving my investments into? Do you have any specific fund recommendations, especially those available through Fidelity?
A: Please be advised we are regulated by the SEC which strongly prohibits advisors from providing specific recommendations to individuals without fully engaging in a due diligence process to determine suitability and appropriateness of a recommendation.
However, as our clients are nearing retirement we try to recommend the appropriate mix of income generating investments including a balance of fixed income, equity and alternative investments. This will include bonds, dividend paying stocks, REITs, MLPs, closed end funds etc. so you can create an income stream to live on.
I recommend speaking with your Fidelity advisor to see if they can offer you some advice. Alternatively, you can schedule an appointment to come in to our office and speak with me for some guidance.