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Personal Finance and Investing

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tortoise1956

(671 posts)
Wed Sep 11, 2013, 01:01 AM Sep 2013

Thoughts on when to shift investments [View all]

Hi everybody. I'm looking for opinions on whether to shift my 401K investments as I get closer to retirement, and ideas on where to put then if I do move them.

General info:
I am 57, and am looking to retire at 62. I have several retirement income sources, but I am hoping to get about 1/3 of my income from my 401K. Currently it is invested in growth funds, which have done well for me. However, I don't think I should leave it in stock-based funds all the way up to retirement.

Are there any common-sense rules of thumb on this subject? Any ideas? Also, assuming I were to move them, what would be a good type of fund to go to? Any words on Fidelity freedom funds? (I'm limited to Fidelity funds, and a limited subset of those)

Thanks for any advice, thoughts, recommendations, etc. I understand this is not professional advice, and I won't gamble my life savings...honest!

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