Scott Tucker, president of Scott Tucker Solutions, a financial firm in Chicago, adds another possibility: a fixed indexed universal life insurance policy to safeguard some assets. Universal life policies, which can act like a bond alternative, come in a variety of forms and should only be part of a portfolio, he adds.
“Just start saving,” says Samuel LaNeave, managing partner at Wealth Innovations in Richmond, Va. “I don’t care what you put it in, just don’t put all of your eggs in one basket. If there is a downturn, even the 60-year-old can buy low. You cannot afford not to be in the stock market because you have to beat inflation in your growth.
“If you are looking for the perfect strategy to beat a down market, you are not going to find it, but you can prepare,” LaNeave adds.