Savings
Good morning Terry. My wife and I are 63.5 yrs old. I was permanently injured so all but some of our savings are gone
What do we do with the rest 6 months ago it was getting 1.5% now its .01%. It is all we have to fall back on
What are some good options?
Thank you,
Terry Says
I’m sorry to say there are NO good options. You cannot afford to risk losing any of the principal. Rates are slowly starting to rise, so stick with 6 month CDs and hope rates are higher when they mature. This is what I call “chicken money’ — and any higher yields involve much higher risk of loss, most of which will be hidden risk!
