How in invest a windfall
Hi Teri, I’m 69 years old, retired, I have my husbands pension and Social Security which totals up to be a little over 4000 a month. I have a mortgage, a car payment and very few credit cards. I won an award for a wrongful death of my husband. After paying off things and fixing the house a little bit, I have a little bit over $100,000 in a savings account. I am anticipating about $30,000 more coming to me from my mothers and fathers estate. What would you do if you were me as far as that hundred thousand dollars goes? I don’t know whether to put it in money market to actually try and invest, I did put $10,000 in an IBond with the treasury. Kids are all taken care of. I have decent health so I just want to be able to make money but also have it available if I need to hire a plumber or whatever and still not hit that $100,000. Can you guide me?!
Terry Says
This is the true definition of CHICKEN MONEY! It’s money you can’t afford to lose!
Leave it in the bank, perhaps a few 6 -month CDs, buying $10,000 of 6-month CDs every month for the next 6 months. Then when they mature, if rates are higher (I think they will be) roll them into a new CD.
And leave the rest in the money market fund. You won’t get rich, but you won’t get poor!!
And I’m very sorry about the loss of your husband in such a tragic way.
