1) Do NOT put money in any investment if you might need it in the short term and it's all you have.
In this case his advisor told him don't worry we will put it in Bonds and Stocks and you will be diversified.
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Let me give you an example.
Friend on this page who has little money in a retirement plan.
Like $20,000. that they actually need. That's all they have.
I asked him. Why did you have that money invested if you need it?
His answer. "Because they told me so."