Frustration Over Lack of Growth

Q. My husband and I are 84 years old. We have money invested in bonds and mutual funds that is not moving or paying off. Our broker wants us to transfer the money into the Freedom ETF Account. I am not familiar with this type of proposal. We need a little income to pay for our long term insurance policy. I am a little frustrated because our money has not grown for seven years. He tells us that our chances of growth is better with this plan.

What do you think?

A. I think you need to find a better advisor. If your money hasn't grown in seven years then he obviously doesn't know what he is doing. In fact, I doubt he knows how to manage money in the first place. Instead, his job is to sell investments.

The 'Freedom ETF' account sounds like a program the firm came up with to make money. ETFs are like stocks. You can buy them one at a time on the open market. What's the benefit of the Freedom ETF account.

Lastly, at 84 years old, what are you wanting to accomplish with your money? Most people your age are more concerned with preservation then they are with growth. If that's the case you are in the wrong investments entirely.

If you want to tell me more about your situation, the amount of money you have and what you are trying to achieve I can offer some suggestions.

Your posted comments on this and other questions are welcome.
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