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FWIW, I’m mid 30s with a spouse and kid and my 401k is 100% s&p500.
My spouse is 2050 target retirement.
Thanks K1. So then what you're saying is that I should change the vanguard 2030 target plan to more like a 2050 target plan becauer that would be closer to my retirement?
How old are you and how many years until your expected retirement?
Both matter as you can take it out without penalty starting at 59.5. Your investment time horizon also matters. If you have >10 years, equities should be a large part of your portfolio, but often these target retirement funds hedge with corporate and government bonds so you have some growth but also safety.
I have more than 10 years to retirement.. 22 to be precise. How do I identify equities from bonds? Sorry... That's how much of a noob I am
Leave it in S&P 500, target funds starts moving your money to bonds over time and that yields nothing these days
Prudential will offer all types of stuff from mid cap, small cap, money market, bonds, and target date funds. Just find the S&P500 one and let it ride. Don’t track it all the time you’ll give yourself a heart attack with every dip in the market. If this is a legacy account and you work somewhere else now, pull the cash out, dump it to an IRA and just go gang busters on QQQ.
I'm a total noob at this and after my initial selection 3 years back, I haven't touched the investment option. Prudential shows me that between start of this year to today, my growth was -3.49% but if if I go back to say Jan 2018 to today, that rate becomes +10.16. My investment is shown at 100% holding of Vanguard Target Retirement 2030 Trust Plus. I'm not exactly sure why or how I chose this plan during initial selection but it is what it is... Any advice for me on what to do?
How many years until your planned retirement age? How risk adverse are you from 1 to 10, with 10 being the most risk adverse?