Ask Terry Questions Cash sitting in Money Market

Cash sitting in Money Market

By Terry Savage on February 07, 2014 | Chicken Money

We are ages 89/90 and have cash sitting in money market not invested in our portfolio. Where should we safely keep until interest rates change?

Terry Says:  Welcome to the “chicken money” club.  Keep it in insured money market deposit accounts in your bank.  You won’t earn interest, but you won’t lose the money!  And may I ask, just to be sure, whether you have an updated will and powers of attorney for healthcare?  What if something happens and one of you is incapacitated?  Have you created a revocable living trust?  If you’re confused by all this,  send me an email at Terry@TerrySavage.com, letting me know where you live, and I will try to point you to some trusted people.  As you get older, you become a target for ripoffs — as well as needing these documents in case of emergency.

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