Hello.  New to Penny Hoarder forum.  I am 63 and looking forward to semi retirement.  I am interested in learning about passive income.  Any suggestions on where I might begin?  I know next to nothing about investing.        

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Emme posted:

Hello.  New to Penny Hoarder forum.  I am 63 and looking forward to semi retirement.  I am interested in learning about passive income.  Any suggestions on where I might begin?  I know next to nothing about investing.        

you should start reading One up on Wall Street by Peter Lynch, you will get the idea and please start very small (maybe $100) to learn and gain experience. Good luck

Hello,

 I see some great replies to assist you but maybe I overlooked it. But what is your ideal goals if you do invest? I seen you mentioned passive income, but if you could give a few more details then myself and I’m sure others could point ya in the right direction for guaranteed results from investments myself have currently profited from. I understand you don’t want to publicly post your details, but just some general info like how much your willing to invest, are you looking for short term gains or long term gains, would quarterly dividends be enough to accomplish your goals or do you need to be more aggressive. Also & most importantly, regardless on what little you currently know. Do you have the time daily and are you willing to dedicate time into research, following trends, etc...?

 If you can elaborate just a bit more then maybe we can help dial you in to what best suits you instead of telling you a bunch of areas to look into which could drive ya crazy trying to figure out which one(s) are better suited for you. 

I am completely deficient in the area of finances!  When I leave my present job, I have the option of withdrawing my pension monies or taking an annuity payment for life.  Half my work life has been private sector; the other half public.  I have 3 more years before Social Security full retirement age.  I am  leaning towards taking a partial or lump sum instead of annuity payments.  I would like to invest some of that money into something that will possibly cover basic living expenses (utilities, groceries, insurance, etc.).  It's just me, and I'm a minimalist, if that matters.  You mentioned quarterly dividends and that appeals to me.  But who do I trust?  Do I make an appointment with an Edward Jones?  Fidelity?  Vanguard?  Charles Schwab?  And then what do I say or request of them so that I don't sound completely lost?  

Emme posted:

I am completely deficient in the area of finances!  When I leave my present job, I have the option of withdrawing my pension monies or taking an annuity payment for life.  Half my work life has been private sector; the other half public.  I have 3 more years before Social Security full retirement age.  I am  leaning towards taking a partial or lump sum instead of annuity payments.  I would like to invest some of that money into something that will possibly cover basic living expenses (utilities, groceries, insurance, etc.).  It's just me, and I'm a minimalist, if that matters.  You mentioned quarterly dividends and that appeals to me.  But who do I trust?  Do I make an appointment with an Edward Jones?  Fidelity?  Vanguard?  Charles Schwab?  And then what do I say or request of them so that I don't sound completely lost?  

That’s the tough call on where and who to invest with. Whoever you choose to invest with you’ll want to rigorously research them thoroughly. They are professionals but because of that they take X amount of percentage of your profits. Verse if you were able to dedicate heavy research and invest on your own. Then you pay nobody to make money with your money. But be warned if your not strict with your dedication into investing then you are going to take more loss in which for your case you should then hire a professional to be in control of where your money invests. I have been studying for years and I’ve taken some bad losses first starting out, but now I invest in several areas worldwide on my own so any profit I make 100% goes directly into my pockets (Except for taxes) 

Emme, do a few things. 1. Contact napfa. They will give advice that CFPs cant, and are in your best interest. 2. Take an online risk tolerance test to know how much risk your willing to take with an investment; Google it or i think Janis or Vanguard has one. 3. Do Research at bankrate.com. 4. Read articles by Clark Howard, consumer analyst and self made millionaire. Whatever you do, don't jeopardize your retirement savings. Blessings. Be smart.

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