Should we sell our investments and move our money into cash accounts?

My spouse and I are 70 years old and retired. We have $800,000 in investments in our 401(k)s. After we receive Social Security benefits, we need to take approximately $30,000 per year out of our 401(k)s. We are very concerned about the volatile market. Would it be wise to sell our investments and move the money into cash accounts?

Retirement, Social Security, Investing, 401(k)
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April 2018

I am not a fan of letting market volatility dictate you going to cash as it is almost always a bad decision.  The market timing game is a fickle monster and I don't recommend playing it.  Rather I think your best bet is to address your asset allocation.  I would work with someone to help you figure out the needs in more detail and the amount of dollars you should allocate to less volatile asset classes like bonds.  This is something we talk to all our retired clients about as this will structure your assets not to have to react to markets and provide you the comfort and piece of mind that your dollars will be there when you need it.  There is a good chance you both live into your 90's and I'd hate for you to not experience the growth potential of stocks on some of your dollars to help combat inflation.  Happy to answer anything else or help in any way necessary.

April 2018
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