Safe investment for $50,000
I am a single woman in my late 50s and would like a safe investment for $50,000 that pays more than a savings or money market account. Can be either short-term or long-term. Any recommendations would be appreciated – thank you.
Terry Says
How much of that money are you willing to lose? If the answer is nothing, then you’re stuck with low bank rates. They will rise in the next year. Or read my column on I-bonds, and take $10,000 and buy Series I bonds, yielding much more. That’s the max you can buy in one year.
Short term, I think the stock market is at a very risky stage. So if you were willing to put this money away and not touch it for 20 years, I’d recommend part of it go into a diversified stock fund. But if you need the money before then, or will panic in a market decline, I’d say don’t risk it now.
