Self-Directed or Managed investments?

[MaggieC]

Hi all

I have a question for the community. I am 53 years old and have been a postal worker for over 30 years. I have a managed investment account through my job and was wondering if i should do some self-directed investing on my own. The investment account at my job is up to almost 400K and I plan to retire at 60. I'm just worried that might be hard to live on for the rest of my life. I could live to 100 and 400K wouldn't cut it. That is only 10K per year. Any input is welcomed.

[Wall Street Forum]

Hello Maggie!

I'll try my best to answer your question.

I think its great that you have some kind of nest egg for retirement. There are a lot of people reaching retirement age who have little to nothing to fall back on.

Leave your managed account alone...at least for the time being. Open your own brokerage account and start trading/investing in basic stocks with a few thousand dollars. Try your hand at that for a couple of years and assess your skill level as you go. If you see your skill level increasing then I would consider investing the funds from your managed account once you retire. Remember this is all predicated on you actually gaining the skills to invest on your own. PLEASE educate your self on investing