I have no idea how old you are, and all your other financial circumstances. So I can’t even guess at giving you good advice. I suggest you make out a budget for your “retirement” years –and see if you can live on it, based on your pensions (and Social Security)! Don’t forget medical expenses or insurance.
At the very least call Consumer Credit Counseling SErvices at 800-388-2227 and they’ll help you make a budget. Or get Judy Lawrence’s Budget Kit workbook on Amazon.
As for investing, my first question is’ How much are you willing to lose? If, as I suspect, the answer is “nothing” –then leave your money in the bank. The start of retirement is no time to be risking money in the stock market for the first time.