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Closed down mutual fund

By Terry Savage on November 15, 2022 | Investments

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.

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