Gifted money investment
Good afternoon Terry. I love listening to you on WGN. I am 60 years old and was gifted $10,000. I am uncertain if I should max out my Roth IRA for 2025 which would be 8000 or do much more conservative investments. I have no debt except for my house mortgage which is 60,000. No car payment and no credit card debt. I want to use some of the money to fatten up my emergency fund. I have 20,000 in treasuries and 65,000. In my Roth. I’m pretty conservative so what would you suggest I do with this lucky money that is safe and could earn a return. Thank you so much!
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Terry Says
You don’t say how you have invested the $65,000 in your Roth IRA. That’s the critical part of this issue. Is it all in the stock market? Is it in MM funds? Without knowing that, I can’t advise, because I don’t know how much risk you’re already taking!
