Personal Finance and Investing

All of my investments are in funds, and I have a money manager who has done very well for me.

I have a Roth IRA, an IRA that's a rollover from a 403b plan, and a separate set of funds that are straightforward investments. The approximate percentages are 6%, 31%, and 63% respectively. Just glancing at the holdings, I'd say I'm about 60% equity, 40% bonds.

I'm 70 years old, and my income derives from Social Security, a very small pension, and income from two annuities my financial guy got me into a few years back, plus income from those investments. I actually have a higher income than I've ever had, which feels quite nice.

No matter how old you are you should have some of your investments in equities. You need the growth. Periodically people here say they're nervous about the future and sell all of their investments, which is a very bad idea. Taking some profits can make a lot of sense, but you need to do a bit of research on how time in the market is vastly better than trying to time the market.

Buying stocks that have a good history of paying dividends, and using those dividends as income can make a lot of sense. Again, you'd need to do research.

And keep in mind, that while stocks periodically reach new highs, they never reach new lows. And yesterday's rate cut made the Dow drop a bit more than 300 points. Right now, today, it's recovered much of that.