For those who are in their 60’s, when it comes to investing, the only risk that can be tolerated is no risk at all.
Many who are 60 and above have spent their lifetime saving and want to make sure that that money lasts for as long as they’re alive.
However, there's a problem with sticking with no-risk investments like CDs. Doing that presents a risk of its own.
The risk is loss of purchasing power. Some may think it’s best to stay conservative, by using cash or bonds only, but there is inflation. The same dollar being saved today will buy much less five and 10 years from now.
While one money move for those 60 and older is to seek safety, it is also important to have growth investments, like stocks. Another important money move to think about the use of retirement years. In the past, retirees spent less, because they did less. Nowadays the sky's the limit so a plan is important.
It’s important to view your expenses and look at your income to determine whether or not you're going to run out of money in retirement.
The bottom line is 60 is the new 40. People are living longer, playing longer, and so the money has to last longer. For more money moves head over to Money Talks News Website and search for investing.
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