Expert Investment Advice for a 61-Year-Old with $800K in Savings
Saturday, 10 August 2024, 11:00
Investment Dilemma at 61
I have $800,000 sitting in a money market account because I don't know what else to do with it. My hope was to find something that can yield around 4-5% growth over time.
Retirement Savings Overview
In addition to the money market funds, I also have $900,000 in my 401(k), which is largely invested in minimal-risk accounts with Vanguard.
Investment Recommendations
- Consider a diversified portfolio that balances risk and growth potential.
- Explore fixed income investments, dividend stocks, or mutual funds focusing on income generation.
- Consult with a financial advisor to align investment choices with retirement goals.
As I approach 62, making informed decisions is crucial for my financial security.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.