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Ask Dave

Father Received Lump Sum For Retirement?

Nigel just received a hefty retirement lump sum. Where can he maximize it?

QUESTION: Nigel says his father just received his retirement in a lump sum of $90,000.  Where should he invest that to get the highest yield?

ANSWER: The best place to invest is in good growth stock mutual funds – growth, growth and income, aggressive growth, and international – if you’re going to leave your money alone for at least the next 5 years.  He’s not going to make a ton of money off of that investment in one year though.