I am a 60 year old widower just sold my house and have 150000.00 to invest. Im on social security and receive a small amount monthly from the VA. not presently working. need a safe investment. Thank you
Terry Says: Then just put the money in the bank, earning almost no interest in a FDIC-insured money market deposit account for the first $50,000 and a one-year CD for $100,000. You won’t make any money, but you won’t LOSE any money there!
If you’re on Social Security at this age, it must be disability insurance. Otherwise, I would suggest that you try to earn any additional money you can so you don’t have to dig into this nestegg. Please don’t fall for “schemes” to “invest” this money. It looks like it is all you have, and all you may ever have for your own financial security. So don’t tell anyone about it. But do you have someone you trust to take care of you if you become even more disabled? Will you be moving into a rental — or a senior community? It seems to me that you are in a transition period and could be very vulnerable. Feel free to write back with any further questions.