January 12, 2008

I am 54, work part time. No retirement or pension. I have $7,000 in a CD. What is the best thing to do with this money?

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January 14, 2008

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Under your circumstances. I would get out of the CD and open an IRA and max it out at the limit for your age which is $6,000 this year. I'd then take the other 1k and invest it in an aggressive growth mutual fund.

if you have questions or would like recommendations on selecting a mutual fund, be sure to ask on the site.

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wisconsingirl22: Thankyou for the advice. And yes, I would like a recommendation on selecting a mutal fund.
TonyLiu: Happy I could help. can you as your question about find a good mutual fund on the main page. I'd like to give others the opportunity to answer, providing you with more choices and information. I'm standing by...

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I am 54, work part time. No retirement or pension. I have $7,000 in a CD. What is the best thing to do with this money?

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