Mother Is 80 Years Old...Where Should Retirement Go?

Dave tells a listener where her retirement money would best serve her.

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?

ANSWER: 
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.