Ask Terry Questions Investment advice

Investment advice

By Terry Savage on June 02, 2019 | Financial Planning / Retirement

I’m 48, unmarried with a free and clear home. My only debt is credit card which is minimal. I put 35% of my work check into 401k and 5500 into a yearly Roth Ira account. I’m looking to do other monthly investments. I looked at Motley fool and didn’t know if that was a useful tool for investing. What do you recommend I look into?

Terry Says

Well, you’ve done a great job so far!  But it seems that most of your saved money is going into the stock market.  It might be time to diversify– and to look into your overall financial plan.  Consider rental property, if you’re interested — and perhaps in a place where you might one day want to retire.

If you’re unmarried, this is also the time to consider buying a hybrid Life/Long Term Care insurance policy.  You make a one-time deposit– or over a period of 10 years — and the money is leveraged up to provide as much as six years of care — something you may need if you are alone.  I’m about to write a column updating my most recent one — but search for the most recent under Columns.  Or call MAGA LTC, the specialists, at 800-533-6242.  You can trust them completely.

Also, have you updated your estate plan — and named a beneficiary for your Roth?  Do you have a living will and healthcare power of attorney?  All this is part of financial security.  Keep up the savings.  I never heard anyone complain about having “too much” money in retirement!


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