Investment strategy for 81+ yr old
I’m 81, own my own small home in Waukegan..no debt. My $550K with Morgan Stanley continually loses money (they say I’m only down 14%..some people are down %20!). My three $5K 529s for my grandkids continually lose money. One graduates from high school this month. I should have given him the cash!.
However my $35K with Fidelity shows some modest growth…what are they doing right? Should I bail from Morgan Stanley?
I’m not investment savy. I have to trust “experts”…but I’m very frustrated that i’nm not even holding my own. What do I do?
Terry Says
Start by getting some personalized advice from someone who is not trying to sell you anything. Read this article on my website. Try the Wealthramp service. And let me know what happens.
It’s not about the “place” you invest; it’s about the investments themselves.
And yes, you should make sure the high school senior’s 529 account is in the safest short-term investments not. You can ask them to make the change. Then have the money withdrawn in the year it is needed to pay college expenses, not before.