Worried About Everything

My friend is better off than most. He has a small retirement nest egg but he is fearful of a 2007-2009 kind of drawdown. That's a reasonable fear to say the least.

He's 60-40 or so in stocks and bonds, mostly funds, with a bit of gold. All of his savings are in an IRA. His number one concern is loss of principle.

Anyone heading into retirement with no concerns is 1) somehow oblivious to the risks or 2) has so much money it does not matter what happens.