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I have a Roth IRA. Should I take it out now and change it to a CD?
I'm 54 yr. old.
4 Answers
- Anonymous1 decade agoFavorite Answer
of course not.
Why would you sell when it is down? You want to lock in those losses?
You BUY LOW and SELL HIGH. You need to stay in the market so you can enjoy the rebound. You should be putting in MORE money right now while stocks are "on sale".
CDs barely keep up with inflation. Unless you are in your 50s or 60s, you need to be in stocks.
I would still wait it out. Once it recovers, adjust your mix of stocks and bonds.
Keep in mind that at 54 your money has to last you another 30 years. You can't do that all in fixed income. Even once you are retired you will still need some of your money in the market.
- 1 decade ago
where did you invest you Roth IRA? You should know you can invest your ROTH IRA to a CD without taking it out.
- Anonymous1 decade ago
No. You can do a direct transfer to a new IRA custodian (bank, for example) and invest it in a CD there, but don't do a withdrawal.
- 1 decade ago
Yes
Take it out now and change it to a CD
You could earn 8-9% in some banks. Email me at apy30pc@aim.com for a good advice
