Investing late in life
My husband is 57 and I’m 56. Due to a near fatal workplace accident for my husband who is left with PTSD. We received a substantial settlement amount from this accident. Unfortunately I have spent most of my time on damage control which left us to file Chapter 13. Now after returning to the same profession he was in in another life altering accident of no fault of his own. We soon will receive another settlement amount for which I would love to grow for us so we don’t have to work forever. What’s the best place for us to invest this money?
Terry Says
Whew — lightening struck twice! In the accident,I mean. And I won’t let it happen to your settlement.
Read this: https://www.terrysavage.com/t-bills-beat-cds/
Thats where all this money goes — evenly divided between 13 and 26 week T-bills, leaving some in a money market account at the bank for emergencies. If it’s a LOT of money, then stagger the purchases, making some immediately upon receipt of the money, then buying more T-bills a few weeks later. Check for automatic reinvestments, so the interest will come back to your bank account and the T-bills will renew at whatever the current rate.
So start by depositing the settlement in a bank account, and then use that bank account to purchase your T-bills.
This is NOT investing — it is keeping the money safe for your “late in life” future! Reject all offers to help you “invest”!!
