Investing in stocks near retirement
I want my money to work for me and am looking for stocks that will help me add to my retirement account. I just turned 60 and am the CEO of my own company. I have a Roth but need to be a bit more aggressive with some of my money to help recoup from loss of income from the pandemic.
Thank you.
Terry Says
There’s an old stock market saying and it’s also a Savage Truth: “Desperate money never makes money!”
How much risk of loss are you willing to take with this money? How long is your time horizon? What would you do (panic?) if the market fell 30% again?
If the answers to the above questions make you queasy, I suggest you invest conservatively (in an Equity/Income fund) and instead of taking more risk, increase your rate of savings! Talk to your accountant about opening an Individual 40l(k) plan that will let you put aside more each year and deduct it from earnings.
