Rates are high enough in the short term that you it may or may not be helpful consider something like Amex online savings - 3.3% return right now FDIC insured.As we approach retirement
The only thing my wife has been doing, is moving money that we are currently saving into more of a fixed return instrument
Also, this is another 'score one' for just keeping things simple. Admittedly I have set it up so that my rebalancing takes like 15 minutes because the Boglehead community pumps out sample spreadsheets that make things easy.Haha I'll take anything that justifies my crazy ways.
Beyond adjusting contributions going forward, I've only ever done it once it.
Seriously though thanks.
Well saidUnsolicited advice warning. If you are starting to listen to your dad then you have the power of time and compounding on your side.
The basic thing I would suggest is keep it simple, pick your index (or indices) and asset allocation between stocks and bonds, and then just put money into different 'wrappers' (401k, IRA, after tax account). That's it. When you are five years from retirement really focus on a draw down plan.
I have read over 10 books on this stuff. The best two were the Bogleheads Guide to Saving and the Bogleheads Guide to Retirment in my opinion.
If you read nothing else I would suggest poking around this wiki: https://www.bogleheads.org/wiki/Three-fund_portfolio
Dad said just put money into healthcare ETF and sit and wait. This was in 2016. If I had done his, I would have doubled my money.2019 was a very bad year for me due to stupid puchases and sales of oil ETFs, Roku a day before a 19% drop. Then 2020 gave me the opportunity to gamble some more with NVDA, Apple, and some other tech which did really well for me.
Then 2022 came, which killed me. Im now just splitting my money between a Nasdaq & DJ index fund etf.
Lesson? Listen to Dad.
USA asks the Saudis for more oil and the big Swiss Bank asks the Saudis for more money.