In a conversation with Jim Cramer, Fisher Investments' Ken Fisher said a common mistake retirees make is avoiding exposure to the stock market in favor of long term low-yield bonds.

He said that retirees often seek out conservative investments, but that if they plan to live 25 years or more, the stock market may be the right choice.

"What does well in 25 year periods?" he asked. "Well, it's not bonds with 2.1% yields."

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This article was written by a staff member of TheStreet.