You're coming here for investment advise??? Really! According to one thread on this site you should cash out and dump it all in real estate. Do your own homework my friend.
So true-you should have 401K in all Pfizer stock, any personal investment money in Pfizer stock, and of course, your pension tied to Pfizer. Put 100% of all your eggs in Pfizer 's basket. It's called the "Enron" retirement plan. Good luck with it. Now do yourself a favor and get financial advice from the unlimited resources available on-line and/or in person at financial companies.....not here!
I am shocked at the number of supposedly "smart,educated" people who have no idea how to invest for their future retirement. Not that a comfortable retirement is important or anything. ! C'mon people, educate yourself, and actively participate in one of the most important decisions you will ever make. Being poor in retirement is for idiots only.!
If you really are serious and don't want to investigate much, dump it into a targeted fund account close to your retirement year, i.e. a 2020 fund. Low fees, reasonable mix of bonds and equities and they'll adjust as you get closer. Not a bad deal. If you want more stocks and growth potential and less bonds, choose one that is farther out, like a 2025 fund. Try it for a while, you can always change it. Ride the volatility and don't sell on the dips. There will be corrections and perhaps recessions...if so, buy more and ride it out.
If you are very close to retirement, put all of it into the safer fdic backed bank accounts. When you turn 62 (maybe 55) if that is very close for you, IIRC, you can transfer all of your 401k into an IRA with any investment firm and invest in anything you want. Why take the chance that the stock market collapses again before you retire? If it does, you're flush with cash to buy back in and make a killing when it returns. Talk to a fee based financial planner if you really want decent help.
Also consider, if you are 62 or older, and can easily live on social security and pension, you may not want to be too conservative. You may live 25-30 more years and the growth from equities will likely far outpace conservative, bond based, investments in the long run, building more wealth. It all depends on your goals, time horizon, health, risk tolerance, etc. If you can't stomach the volatility, you could put half, say $500,000 in places that will protect principal and $500,000 in a more growth oriented portfolio, assuming you have about $1,000,000 in the 401k. Planners tend to be very conservative and most will try to make money off your situation. Find someone you trust and understands your goals.
One day you turn 62 and all of a sudden you can retire. I can live on my pension and put my social security into a mutual fund for good growth. House is paid for (key retirement goal so you are not stuck with a mortgage) and I am not touching my 401K until I must at age 70. All is working out very well.
Please utilize the financial advice that Pfizer offers through Fidelity. It's free and they are thorough. They'll let you know if you're on track or not.
