Dan Celia

Financial Issues

June 2019 – Q: With so much talk about the economy collapsing, we pulled out all of our money. Thus, we missed out on a great opportunity. We are retired – should we get in again?

A: No. You got out at a very low point, and it would not be good for you to get in now at a high. If you are in a place where you are reasonably sure you will not need the money for at least 8 to 10 years, I would be okay with you getting back in – only if the markets get close to the lows of December 26.

If you need to get back in to draw some income, it would be okay to start gradually getting in over the next six months, but only into positions that will generate the income that you are taking, not re-investing.

Don’t get concerned with anything else since your income should stay steady. Also, if you are considering investing for income, consider a small portion of your money for a Charitable Gift Annuity at the AFA Foundation.

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Dan Celia has been in financial management for more than 30 years. He works closely with AFA Foundation and can be heard six days a week on AFR Talk (afr.net).

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Email: [email protected]
AFA Foundation: 800-326-4543, ext 345