Part 3/8:
The discussion began with a listener's inquiry from Tom in Dayton about his entirely stock-based retirement fund given his financial security through a defined pension and deferred compensation plan. Tom's approach raised questions about the necessity of bonds in his portfolio. Brokamp reassured him that given his financial scenario, focusing solely on stocks may be appropriate, but reminded him to consider the risks involved, especially if his retirement timeline is close.
Exploring Alternative Cash Management Strategies
Brokamp proceeded to outline several alternatives for storing cash during uncertain financial times or when saving for specific future expenses. These options keep savings relatively secure while still allowing for better-than-average yields: