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Published on: 12/30/2008
Last Visited: 2/16/2009
Aaron Maguire with Reliance Wealth Management says, "It might be a good opportunity right now to tax manage that account and take advantage of those losses and maybe buy something that may give you a better opportunity for growth down the road."
But if you have a retirement account and are wondering if you should still sell your losses, that's a little different.
Maguire says, "A retirement account is designed for you to take that money out at 59 1/2 so you don't have to worry about selling your losses at the end of the year, necessarily with a retirement account, but you really want to look at the quality of that investment."
Finally, if you're wondering what types of investments to focus on, Aaron says buy those investments based on your needs.
He says mutual accounts are probably the easiest type of investment to own right now.
Maguire says, "The reason being, is that they give you an opportunity to diversify your portfolio.
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