PLEASE NOTE: We do not answer tax or legal questions, nor do we give tax, legal or investment advice. Please consult with a financial advisor before making any financial decisions.
Previous Questions From Other Pre-Retirees and Retirees
Q: Should I put my $450k into an annuity? I'm getting some money, what should I do with it? Our mutual funds and other investments have dropped 20%, please advise.
I can't answer "should I" or "which" questions. To a large extent the correct answer depends on a person's goals, risk tolerance, personality and total assets. This is why you need to sit down with someone you trust - or preferably 2 or 3 different people - and ask for their suggestions and reasons why. And second, we don't give investment advice.
I can offer two generalities that usually hold true:
Diversify: Don't put all your money into one place or one type of place. It's A Circle: Times are bad now, they could definitely get worse, but if you believe the long-term outlook for the economy is positive then you should not react to short-term spookiness, provided you have the wherewithal to ride out the bad times.
Q: Is my money market FDIC insured?
We are getting quite a few questions along these lines about individual money market issuers. In general, money market accounts are issued by banks and are covered by FDIC insurance limits, money market funds or notes are securities and are not covered by FDIC insurance. The same holds true for mutual funds, annuities, and U.S government bonds - these are not FDIC insured because they are not issued by commercial banks.
Q: Can I cash in a savings bond where my Dad's the owner and I'm the beneficiary, but Dad's still alive?
Please scroll down to continue reading more questions >>>
Search our site:
Speak with an Agent: