IRAdvice (it sounded catchier than "Financial Advice")
I've got a question for any financially savvy people out there!
See, I have an IRA with about $6,000 in it right now, currently all in stocks via mutual funds. (And I set this IRA up in 2007; hooray, timing!!) And I don't think it should be in stocks right now. The way I see it, the stock market is out of touch with the real world, the US economy is stagnant or sluggishly recovering at best, Europe is unresolved and potentially teetering on the edge, and unless Congress does something unprecedented in a few months we'll have even more chaos instead of a budget. And I don't want my IRA to go through a second crash.
So my question is: where should I move that money? Bonds aren't as safe as they used to be and gains seem miniscule, but are they still the best bet? Should I go for short-term, intermediate-term, or long-term bonds? (And what difference does that make?) Is there somewhere else I can put money where it will be doing something, but be insulated from another market crash?
I'll thank you greatly for any advice!
See, I have an IRA with about $6,000 in it right now, currently all in stocks via mutual funds. (And I set this IRA up in 2007; hooray, timing!!) And I don't think it should be in stocks right now. The way I see it, the stock market is out of touch with the real world, the US economy is stagnant or sluggishly recovering at best, Europe is unresolved and potentially teetering on the edge, and unless Congress does something unprecedented in a few months we'll have even more chaos instead of a budget. And I don't want my IRA to go through a second crash.
So my question is: where should I move that money? Bonds aren't as safe as they used to be and gains seem miniscule, but are they still the best bet? Should I go for short-term, intermediate-term, or long-term bonds? (And what difference does that make?) Is there somewhere else I can put money where it will be doing something, but be insulated from another market crash?
I'll thank you greatly for any advice!