Ask Terry Questions saving for retirement

saving for retirement

By Terry Savage on July 21, 2015 | Financial Planning / Retirement

I have 100,000.00 in a insurance savings for retirement until I reach 70 and 1/2, should I move it out to some where else and where to?

Terry Says:  Well, this is a tough question, because you don’t give me nearly enough facts for an answer.  I’m assuming this is NOT a retirement account (IRA) where you will be required to withdraw at age 70-1/2.  But that may not be the case.  And I don’t know what you mean by “insurance savings.”  So please write again with more details, including a brief update on what other savings or retirement income you have, your current age, whether you are working now and how long you plan to continue.  And, while you’re at it, think about how much of this money you would be willing to put at risk in order to gain some extra income or growth on it!

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