IRA investment
When I retired 3 years ago I rolled over my 401k into an IRA cd at 2.5%°. It comes due in January. My husband will not be retiring for 2 years when we will both be 70 and starting to collect SS. What do you suggest I do with my IRA. It is around $100,000. I do not expect to touch it until I reach 72 when I must take required minimum distribution. Thanks for your advice.
Terry Says
I don’t know your entire financial situation. The general rules is that you should have some exposure to the stock market, because over the long run that will offset inflation. But I’m not sure this is the time to apply that “general rule”!
Let me ask you one question: How much of this money can you afford to lose? If the answer is “nothing” — then leave it in the bank for another 6 months, earning nothing — and sleeping well.
PS Good for you for waiting to start SS until the last minute. That is an additional benefit of about 8 percent a year!
