Retirement Investment Advice

Updated on October 24, 2008
A. asks from Plano, TX
4 answers

My husband's job offers the Fidelity Advisor SIMPLE IRA and so I wanted advice from you smart mommas on if this a good way to save for retirement. Thanks, we're new to all this!

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answers from Austin on

I agree - talk to a financial planner about it. I'm not a financial planner, but here are the things I, personally, would look for before investing in my employer's retirement plan -

1. An account that I can manage easily (preferably online 24 hours a day) with a variety of investments that I can select - stocks, bonds, mutual funds, etc. - so that I can set my tolerance for risk and diversify to my satisfaction. If you're far from retirement, you can probably afford more risk than someone who is within 5 years of retirement, so it's nice to have that kind of control.
2. A plan where my employer matches my retirement deposits (my employer matches dollar-for-dollar of my deposits up to 5% of my salary - that's free money that I should not be turning down.



answers from Dallas on

Be careful about using an insurance agent for financial advice, they often use just their life insurance products and you will spend more than you invest for insurance. A great advisor will cost money generally but will be worth it. If you don't have a lot and if you are far from retirement, I found an IRA directed in a broad variety of stocks for example the 500 index fund beats the market 95% of the time. If you are close to retirement, you need help. In this market and economy, God help us, we all need help! I am knowledgeable as I was the only female stock broker at our Prudential office for many years a long time ago. You need a name from people with money who are pleased with their advisor.



answers from Dallas on


My husband is a financial planner with Northwestern Mutual. He would love to sit down and talk with you about your retirement plans. Give him a call at ###-###-#### Jason Luck.

Best Wishes!


answers from Dallas on

You need to consult with a licensed financial planner to determine what best meets your needs.

It will be worth the $ to you to get sound advice from a professional.

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