Now, this sounds like a no-brainer. The typical answer is NONE and RIGHT NOW. No one wants to lose money – especially in their retirement accounts at the exact time they need the money to live on – and everyone wants a better opportunity as soon as possible once they find it.
Unfortunately, this typically does not happen. With all the information being thrown at retirees, it is difficult to determine what is good for you and what is bad for you, so you stay put. You don’t want to make a bad decision, so you stay right where you are because the emotional hassle and pressure to make a decision on something new is difficult, so you say “We are going to wait a while before we do anything.”
Sound familiar? We all do this at times and it is usually with a big decision, such as a car, home or some other large purchase where there are multiple people offering you multiple choices – and each one is telling you the other one is wrong and they are right. So, you wait – and this is when your Cost of Waiting clock begins.