Private Equity May Be Coming to Your 401(k)

TIMELY RETIREMENT NEWS, INSIGHTS, AND ADVICE

RETIRE WITH MONEY COMMUNITY INSIGHTS

This week in our Retire with Money Facebook group, a member asked this question of her fellow members: “Hey guys, thinking about the future and wondering if we have pensions and Social Security to handle our everyday expenses can we just keep any IRA money in a target-date fund for the rest of our lives? Say we retire in 2030, can the money just stay in that fund forever?”

She said she was asking because she wanted to make a plan to help her husband navigate their investments if she were to die before him (she’s much more involved with that than he is). This is very smart, and something all couples should do if they’re not equally involved with money management. The short answer to her question is yes, although if it’s a traditional IRA she’ll need to start taking required minimum distributions at age 72. She can also think about consolidating her various accounts with one broker--that’s a good way to help a surviving spouse manage and a good way to make sure the retirement account's asset allocation works within the broader portfolio.

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Elizabeth O'Brien is deputy editor at Money. She has covered retirement and health care for nearly a decade. A Brooklyn resident and mom of two boys, she navigates the alphabet soup of Medicare and the New York City subway system with equal ease. You can email her at elizabeth.obrien@money.com and follow her on Twitter at @elizobrien.