70 with $$$ To Spare

Q. I will be 70 in Sept and have $30,000 available to invest. I don't plan to need the money at this time. What do you suggest? I have just read about the Indexed CD's but can't find out much about them. Is there a bank near me that sell's them? I've been reading your opinion on the Indexed annuities.

A. I'm glad to get your email...

You mention that you don't need the money at this time. How much money do you have in savings or things like Certificates of Deposit?

If you don't have enough to cover all of your living expenses for at least 6 months then this money should just be in a money market account or a short-term CD.

If you do have other money set aside, then the question is what you want this money to do for you?

Realistically, it probably won't change your standard of living if you make a couple more percent in one investment versus another. So you have to judge whether it is worth taking the risk.

From what you said, it doesn't sound like you have a lot of investable assets. Because of your age and these reasons it may be best to not worry about being too aggressive.

If you want an ELCD, it may be hard to find locally. It is probably easiest to call Fidelity Investments. You can open an account there and they should be able to provide the ELCDs. If you get one, stick with ones that are shorter-term--maybe 3 years.

Your posted comments on this and other questions are welcome.
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