Doing your homework before you invest goes without saying. Getting trusted and knowledgeable advice from people you know, not acting under pressure, and learning as much as possible are all sound methods. As a senior citizen, you may also need to consider ulterior and unscrupulous motives as well. Fraud is increasingly directed at seniors as they become a bigger and more lucrative target for scammers and con artists. Read more about 10 signals that indicate something doesn’t add up here.
As you progress through retirement, which investments you should access first is a decision that will require a clear view of your finances and your goals. It can be a tricky decision to start tapping into your 401(k) or Roth IRA depending on your strategy and desired outcome. Your estate planning should take into account if you want to leave money in an account to your heirs and how much. Find out more about what information you should consider and how it affects this decision here.
Baby Boomers are heading towards retirement in increasing numbers. Along with this migration from the work force to the retirement force is a lot of discussion on how to best use retirement savings. The result is that some risky investment strategies are starting to get some attention that they may not deserve. While any investment carries an inherent amount of risk, some investment goals may put you at more risk than they can reward. Caution may be the better part of valor. Read more here.