how to invest and diversify
With todays high stock market values how would you recommend a novice, 40 year old, investor to move a $125,000.00 dollars out of money markets to more profitable investments. This will ultimately be the basis for retirement.
Terry Says
I would recommend you do so very carefully and very slowly! We are at all-time market highs and there are some warning signs out there. I don’t know how you suddenly came into this kind of money, but putting it all into the stock market at one time is likely to be a horrible mistake. Think about how you’d feel if you lost half of it!
Next, I would ask a lot of questions about your lifestyle and your income. Are you already contributing to a retirement plan at work? Are you earning an income, and thus eligible to open an IRS for a $7,000 tax deduction (or even a non-deductible Roth IRA)?
The more I start thinking about all the questions I would want to ask before making a recommendation, the more I think you should have a session with a FEE-ONLY FIDUCIARY financial advisor, who is NOT trying to sell you something! The ONLY way I can guarantee you won’t fall into the wrong hands, is if you go through the Wealthramp process. So please click on this link: Pam Krueger Wealthramp – Terry Savage
This is the way to start planning for your future, beyond investments and using some strategic thinking based on your lifestyle, goals, family issues, etc. I promise you this will be cheap tuition. If you just start asking “advice” out there, you will pay some very expensive lessons for sure!
