i have managed to save a chunk of money that is just sitting in the savings account. I have a 401k through work but want to put my savings to work as well as I am nearing retirement age. If you had $50k, how would you invest it?
Dont worry abt markets up and down just put something away every month in a good Fidelity Investments or Vanguard mutual fund. General Market fund. Look at it in 40 years and you will be Happy
Could you put it in an IRA? Even though you’re close to retirement age, you wouldn’t be taking the whole amount out the day you retire - so beyond your distribution, the money in your account would still have opportunity to grow.
A 1 yr CD or Treasury Bills or money mkt with a Broker aka Fidelity, No stocks