Closed down mutual fund
My husband and I are in our 70’s. We just received proceeds ( 20,000)from a mutual fund that closed down. Where and what should we do with that money? We don’t need the funds to live on it right now.
Thank you
Terry Says
I think you might want to keep that safe — especially if you don’t have any other liquid savings.
Read this: https://www.terrysavage.com/t-bills-beat-cds/
And don’t forget, you may receive a 1099 for any capital gains from having held this fund for a while. So be prepared for a tax consequence of this distribution.
