Anne Tergesen

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4,485 appearances 83 recordings 1 series first heard Jul 2017 last heard Feb 2025

Anne Tergesen’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · For Stock Investing, Older Americans Are Thinking Young · 10 Jul 2023 podcast

It's a very large swath of people.

Some of them have large portfolios and some of them don't.

So it's risky because if you are relying on that money, in other words, like retirement is coming soon or you're already in retirement and you need to withdraw money from your portfolio, if you have a large proportion in stocks and the stock market goes down like we saw in 2008 when it went down pretty dramatically –

It's difficult to recover if you're both taking money out of a portfolio and the value of the portfolio is declining swiftly or dramatically.

So that's why financial advisors recommend that retirees have a certain decent percentage in bonds because bonds tend to be less volatile.

The value changes less dramatically typically.

There's a bunch of reasons.

You know, some people are still working and, you know, maybe they don't have a retirement date in sight.

You know, people who are 55, some of those people maybe are going to work for another 10 or 15 years or they don't really know when they're going to retire, but they feel they can afford to take the risk.

Other people maybe are in retirement but have other sources of income that they rely on.

Maybe they have pensions, they have Social Security.

They don't really rely on their 401k nest egg to provide a large proportion of their savings.

They feel they can afford to take the risk.

There are other people I've spoken to who are pretty convinced.

Maybe they're in their mid-60s, but they've had relatives live well into their 90s, and they're pretty convinced that they need to target a long-term horizon.

So they're willing to take the risk because they feel like they need to invest more aggressively because they have years in which they think they might live.

Some other people don't see alternatives to stocks.

Over the past decade or so, interest rates have been very low.

So returns on bonds have been low.

And a lot of baby boomers, a lot of older investors have realized much better returns from stocks than bonds.

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