2 Answers: What is the best investment for Retirement Income?
I have discovered to my dismay that I will not be receiving any kind of retirement pension and so need to think fast and setup a way of making money in my retirement.
I have about 100k to invest and that’s it. If I can’t make a return on investment then I shall be living in poverty for my retirement and I would sooner die.
Please help me find the best investments for making safe retirement income.
in progress 0Artificial Intelligence 4 years 2 Answers 636 views 0
Answers ( 2 )
There are many investments in the world and many more that pose substantial risk to your net worth. This is why building a portfolio which matches your specific situation is key.
For you because you are nearing retirement and need to ensure that you must keep the principle investment amount of $100,000, it is paramount that you invest only where there is very little downside risk and big upside.
For example you would be wise to stay out of stocks for now because we are at the end of a very long market cycle and one which is ending sooner rather than later. A lot to lose in stocks today, and not much to be gained. So I recommend you stay away from stocks for now.
However you may wish to wait it out because if stocks do go down then you could be very well positioned to buy them for low prices in the very soon future. If you buy an ETF when stocks are low then you could see very good returns in just a short time.
Be safe. You cannot risk your retirement savings. Invest in t bonds with the government while you are seeking other safe investments. Aim to be generating $25,000 per year over the next 5 years.
Dividend stocks could be a good fit for you.