Best Investments After Drawing Retirement Funds

Added March 16, 2009 by Ilyce R. Glink

Print Articles

Summary: A financial planner can help you make investment decisions when it's time to draw on retirement funds. Shorter-term investments might be wise to ensure that money is available on short notice. Mutual fund investments will also allow you to have access to the cash if needed.

Q: Where should we invest our money? My husband and I both have retirement 501 3(C) savings. At age 70-1/2 you must begin taking money from this fund. We are still both working and need to know where we can deposit the money to have it be both liquid and working for us. We do not have any life insurance and would need to have our money available, if need be, on short notice. These funds represent our life savings. My husband must make a decision immediately.

A: You can open up a brokerage account at the same investment company and have the cash transferred into that account. From there, you can make an investment decision that meets your needs.

You can invest the cash in a short-term or medium-term bond fund, or you can put it into an S&P500 index mutual fund. Both options will allow you to have ready access to your cash, if you need it.

For more information about your particular circumstance, please consult with a financial planner.

See more articles on this topic by clicking on the "RELATED ARTICLES" above and to the right.

We have over 5000 articles on Real Estate Advice, Personal Finance Advice and Consumer Advice on our site. We encourage you to look at these articles. As always, if you have a comment on our articles, don't forget to post your comment below. We thank you for coming to ThinkGlink.com.

© Ilyce R. Glink. All rights reserved. This content may not be used, distributed, syndicated, compiled or excerpted in any medium or form without written authorization from Think Glink, Inc. For information on syndicating ThinkGlink.com please contact us.

Previous article Next article