I recently was gifted $28,000. I am 74 years young with about $250,000 invested in CD’s and a managed account. Besides social security I earn $30,000 a year working part time. With the market at an all time high, do I wait to invest this money in a managed account or ETF’s and put those funds in CD’s?

Thank you

Terry Says:  Whew — that’s a nice gift!   But I can’t answer your question out of the blue — without knowing more about your financial situation! For example, are you “set” for retirement, with enough money to last your lifetime?  How much risk can you afford to take at this stage of your life — which is a polite way of saying, how much can you afford to lose?  Do you have grandchildren, whose education you’d like to pay for?  Have you made an estate plan, and is your goal to pass this money on to the next generation?  It’s not so much that the market is at all-time highs — it’s a much more personal question.  If you want to write back with more details, I’m happy to try to point you in the right direction.  But be careful who you ask — since there is an army of financial salespeople out there who would be delighted to take your money, charge you fees and commissions, and give you advice!

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