Retired need safe investment, no taxes
I'm 58 and retired. I have money to invest but don't want risk exposure to a roller coaster market. I cannot open a Roth IRA because of no earned income. What is a good place to invest to minimize my exposure to taxes?
Terry Says
Well, there's good news and bad news in answer to your question! The good news is that your money will be perfectly safe in a money market deposit account in the bank. The bad news is that it won't earn much interest there. But wait, there's more good news: since you're not earning much interest it won't impact your taxes! Seriously, if this is "chicken money" and you can't afford to lose any of it, then leave it in the bank and sleep well!
