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.