November 23, 2007
Posted by matchbox
I'm 60 years old and don't plan on retiring in my life time. I love what I do.
I'd like to move as far away from the US dollar as possible. What options do I have?
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November 24, 2007
Posted by MrPJRobinson
( 1 rating )
The first step in any well-laid plan requires an assessment of what you are working with. In your case you would need to determine your risk tolerance, what the rate of withdrawal will be, and then what the time horizon you have to work with.
Once you have the variables in place here you can then chose the best vehicle of investment.
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November 24, 2007
Posted by SlashLane
( 1 rating )
Move the money to a brokerage account. Make sure you split the money up in order to be fully insured. For example, eTrade only insures their accounts up to 500k, etc. Each brokerage is different.
Next, I would suggest paying down and high interest debt, possibly your home based on your mortgage.
After that, since you are not planning on retiring anytime soon, I would invest half your money in moderate growth mutual funds and the other half in one or more index funds. Be sure to seek the advice of your financial adviser during these steps.
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March 11, 2008
Posted by inthemoney
( 0 ratings )
Knowing your age and risk tolerance and depending on the amount, I would look into some annuities that may work for you. I agree with the advice below, you should consult with your advisor.
Whatever advice you get from your planner, make sure that you factor in your Horizon Risk - the risk of outliving your money.
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