Quote:
Originally Posted by jeffmem
Cash: 66%
Government Bonds 18%
Traditional IRA: 3%, note I have only around 2k in this, I have been advised by my accountant not to put anymore because interest rates are so low and I am getting better on other MMAs.
Stock: 6.8%
Mutual Funds: I have two, together total 6.5%
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Why does a 33-year-old have 84% of his money in cash and bonds? I think that is way too conservative for someone your age. If you were 73 I think you should have more in stocks than that.
As for your IRA, I don't understand your accountant's advice at all. He thinks you are better off putting money in a taxable money market fund earning maybe 2% than you are investing in stocks and stock mutual funds in a tax-sheltered account? That doesn't make sense at all.