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.