Jeff Erdmann of Merrill Lynch and Peter Mallouk of Creative Planning, two of America's best wealth managers, dispel a myth about retirement investing.
was more than 10% in 1985, but hasn't touched 5% since early 2001. Last year markets were startled when the 10-year yield briefly"spiked" above 3%. Other conservative investments also don't provide the kind of returns they did in decades past.
That's been a big contributor to the 10-year bull market in stocks: More conservative options just haven't appealed to a lot of people for many years. And it's not clear if it will change any time soon. Mallouk runs a $39 billion company that was named by Barron's as the best independent wealth management firm in 2017. He told Business Insider that age is nearly irrelevant to retirement investing.America's biggest wealth manager oversees $39 billion for the ultrarich. Here are the 5 ways he says you can invest like 'the millionaire next door.'
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