Advice for 61-year-old with $800k in money market account: seek well-balanced investment for growth.

From Yahoo Finance: 2024-06-23 12:00:24

A 61-year-old, Kevin, seeks advice on investing $800K from his money market account and the $900K in his 401(k). He hopes for 4-5% growth without losing his savings. Though, being too conservative can also pose risks, as seen with a 0-25% stock portfolio not lasting as long. A well-balanced investment plan, matching risk tolerance, is the key to financial success. While certain accounts offer low-risk interest rates, a diversified portfolio with 60% stocks and 40% bonds may provide higher long-term returns. Consider consulting a financial advisor for guidance on investment strategies aligned with your financial goals.



Read more at Yahoo Finance: I’m 61. I Have $800k Sitting in a Money Market Account. How Should I Invest?