Balancing stocks in a retirement savings portfolio

I am 65 and retired. My husband has early dementia, so all financial issues are on me. Fortunately we are very well off. Besides a pension we have a trust, an IRA and a Roth that combined exceed $3 million. However, 60% of these assets are in stocks and the investment firm will not lower this proportion any further.

They are doing well with our money, but I’m still wondering if I should move my accounts to a firm that can offer me a more conservative portfolio. Even with a long-term care policy, my husband’s care could get costly. One month of in-home care currently costs $13,000. He’s in good shape otherwise and could live many years.

The investment firm should be able to tell you why this stock allocation — which is a bit on the high side for a retired couple — is appropriate in your individual circumstances. It would be ideal if the firm could also show you what a lower stock allocation might mean in terms of your current and future income, in case you want to make spending adjustments that would allow you to take less risk.

I am planning to retire in a few months at 65. My husband, who is five years younger, works for a corporation that provides excellent health insurance. When I sign up for Medicare, will I still be able to stay on my husband’s health insurance? Which insurance will be listed first for coverage?If the plan covers 20 or fewer employees, his employer can boot you off the plan or make it secondary to Medicare.

Notice the use of the words “typically,” “normally” and “generally” in the paragraphs above. Medicare’s rules and exceptions can be tricky to navigate. Talk to the benefits manager at your husband’s company so you know where you stand, and what parts of Medicare to sign up for as you turn 65.After working and paying into Social Security for more than 40 years, I took a city job at age 60.

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