Retirement Holdings
Where is a good place to put cash and are Roth IRA a good investment after 60?
Terry Says
If you continue to work, and can put money in a Roth IRA, that’s a good place for it — because all gains come out tax free in the future. But there’s not much point investing your Roth IRA in a CD or money market deposit account, where it won’t earn much interest.
So be sure to sort out which money you need on hand for emergencies (chicken money) and put that in a money market account, where you won’t earn much at all. And then sort out the money you want to grow for — and during– retirement. Invest your Roth IRA in a conservative balanced fund or equity-income fund, and ride out any market volatility. Having cash in a MM fund will give you the confidence to do that.
