Having just retired this past June (wow, still can't believe it!) I am hoping for some advice about my Vanguard 403b account. I just spent an hour on the phone trying to get someone to understand that I didn't really know what questions to ask, and thankfully a nice gal finally figured me out (smile) I am thinking about trying to go "more conservative" in my 403b.
Some info: I am still 18 months from Social Security, but I'll start my pension (about half of what I think I'll need for my monthly budget) in January when I turn 65. I have enough in my savings to get me through to when Social Security starts, and will not necessarily need my 403b until then, and even after, if I am very careful with my spending. I won't know if I'll "need" the 403b funds for my yearly expenses until the next year is up and I will have had time to practice with my set budget (that I actually practiced in 2017, with a bank account with only that money in it, that I spent from exclusively.)
Now to the question (I hope I am asking it correctly, but I don't really know much about it!)
My 403b is currently in a "20-25" fund which I was told is a "sliding retirement type fund" for someone retiring in 2025. This fund is 65% stocks and 35% bonds, I was told by the nice gal at Vanguard. She also told me I could move it to a "20-20 fund," which is 55% stocks and 45% bonds, i.e., more conservative.
Any advice for me as to whether should I leave my 403b in the "20-25" fund, or move it to the "20-20" fund?
Some info: I am still 18 months from Social Security, but I'll start my pension (about half of what I think I'll need for my monthly budget) in January when I turn 65. I have enough in my savings to get me through to when Social Security starts, and will not necessarily need my 403b until then, and even after, if I am very careful with my spending. I won't know if I'll "need" the 403b funds for my yearly expenses until the next year is up and I will have had time to practice with my set budget (that I actually practiced in 2017, with a bank account with only that money in it, that I spent from exclusively.)
Now to the question (I hope I am asking it correctly, but I don't really know much about it!)
My 403b is currently in a "20-25" fund which I was told is a "sliding retirement type fund" for someone retiring in 2025. This fund is 65% stocks and 35% bonds, I was told by the nice gal at Vanguard. She also told me I could move it to a "20-20 fund," which is 55% stocks and 45% bonds, i.e., more conservative.
Any advice for me as to whether should I leave my 403b in the "20-25" fund, or move it to the "20-20" fund?