I am 55 years of age and I also took advantage of my compay's 457b plan. Although I am about to retire soon I am still investing moderately aggressive with a mix of 70 percent stocks and 30 percent bonds and cash. At retirement I am going to leave that money in the plan with no plans of of touching it for years. Is it ok to stay on this investment path?
Whoa, not enough info. Your spending habits may increase due to doing nothing. If travel, golf, fish, name your activity of choice it has a cost. Poor health could use a sizable amount of funds. Medicare will not be there until you are 65 years old. Retirement has many connotations; how do you describe retirement. Sitting in a log cabin, on a beach or a Walmart greeter. There's no mention of your monthly expenses; what will those be paid with since you are deferring income. What is your source of income between now and whenever you decide to tap this nest (which could consummed by some misfortune. If you risk return profile supports a 70/30 split only you can answer that. Have ever sought to find out your risk number. Is your risk number a 25, 42, 77, or 92. Each number has a bell curve position and a standard deviation associated with the number. What's yours.
Agreed, not enough information. There is no "right" or "wrong" for asset allocation in retirement. If you really do not need this money to live on for many years, then you may wish to continue investing this money for growth. I have clients who have money they will likely ever spend, and we may choose to invest that money aggressively, since it is intended for their kids. So every individuals situation is unique. Money you will likely need during the next 10 years should probably be invested more conservatively - but even that depends on how much you have. The less "cushion" in your financial plan, the more conservatively you may need to invest.
While I imagine you do have a pretty good handle on what your expenses and costs will be during retirement, it seems a second set of eyes is probably your best bet. We don't charge to dig into people's financial lives under the guise that if we can offer advise or change you like, you give us a shot.
Seems to me that me a great proposition for you before you take a big leap forward.
If you have any interest pursuing that route, please reach out to me - email@example.com.
Thanks and good luck either way!