Savings account vs stocks
Hi,
My husband and I have $150,000 in our savings account that we do not need right now . We are 59 and 61. My husband is retired firefighter and has a nice pension and we own a general contractor business that is doing fairly well. What is the best way to invest it ? Thank you.
Terry Says
At this point, I’d keep it in the savings account.
Or buy Treasury bills: https://www.terrysavage.com/t-bills-beat-cds-2/
Read my latest column on the possibility of a recession in the coming months. I don’t forecast the stock market, and he should keep contributing to an IRA. But taking all your liquid cash and putting it into the market right now does not make sense to me.
Of course, I could be wrong. You’d miss out on some gains. But if I’m right, you’ll miss out on some big losses! Usually, the time to buy is when everyone thinks the end of the world is nigh.
