Personal Investment & Financial Planning Q`s/Investing
John - I am 73 years old and have been in the stock market since 1979. I have about $170,000 in stocks/bonds and would like to withdraw all assets to a more secure investment. I do not necessarily need the cash at this time. Should I take the money, pay the taxes, and put the money in a savings account, or is there a better arrangement? What are my options? Your expertise would be much appreciated.
Hi. This question is a but general for me to answer with specific since the "right way" to invest is dependent on each persons unique circumstances. With that being said, if you want to reduce your risk and invest more conservatively, and want to keep is simple, you may want to consider investing in a low cost mutual fund that invests in a variety of stocks and bonds and in a proportion that is right for your risk tolerance. A good resource for researching this is www.vanguard.com. Go to the education portion of the site and take a look at their tools which can help you determine a more appropriate allocation. Their funds are low cost and could be a good fit for your needs as well. I hope this helps and I am sorry it is not more specific of an answer.