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Ask Dave

Better Place To Invest Money

The listener needs to consider his grandmother's peace of mind as he decides what to do with her $150,000 in savings.

QUESTION: A listener says his mom will be 80 years old and that she has $150,000 in CDs, money markets and savings bond.  She is in good health.  Is there a better place to invest her money?

She’s probably not going to be investing for the long haul unless she’s investing it for her heirs.  If she’s comfortable with where her money is right now and has a negative perspective of the stock market, don’t move her money.  Do not steal her peace in order to put her money into a better investment tool. 

If she’s willing to move toward a little better investment in mutual funds, start by moving a little bit of the money into growth stock or balanced mutual funds.