Are money market funds a good place to invest my money at age 55 and older, or should I still be a bit riskier with my investments?
I'm still working, but concerned about the stock market.
Answers | 3
We are always concerned about Mr. market? Do you have enough in your portfolio to retire on? Meaning, if you stop working today, will you have enough to last until...?
I'm less concerned about Mr. market than I am with you meeting your investment objectives.
This is paramount. What does "Riskier" mean? Risk simply put is just uncertainty. Now, lets dig into uncertainty. Whose money is at risk (yours or the account manager)? Now, who do you want to manage that risk? Probably,, somebody who knows what they are doing-Do you agree?
Here is a great MoneyTips article about Risk
You could set up your portfolio with cash-flows and just "flow" them into your MM (Money Market) account. This protects your principal. We have some that are generating 20%/yr. Restrictions apply. Always do what is in your best interest.
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