IRA for senior who needs the money to last
What products would be available for a senior wth an IRA that has to last.
Terry Says
If you’re a senior and can’t afford loss, then you must invest your IRA in a bank money market deposit account or short-term (less than one year) CDs. Nothing else. You can make your required minimum withdrawals from the cash in the money market fund. And as CDs mature, move some money into the MM fund each year. And there is no penalty for breaking an IRA CD if you are forced to take withrawals.
