Ask Paul: we are retirees – where to invest $ 57,000?

Dear Paul,

My husband and I are both retired. He is 74 years old, he is retired by age, and I am 62 years old by disability.

We have just closed the managed fund and returned our funds to us, but we do not know what to do with them. We have 57 thousand dollars – where to reinvest them? – Barb

It all depends on the amount of risk you are happy with, the access you need to money and whether a small income will help you.

Since you had it in a managed fund, it’s a tool you’re used to, so I’d be inclined to go the same way.

You can go with a very cheap index fund run by Vanguard or BlackRock, or one of our major investment companies such as Argo and the Australian Foundation.

If you want to take less risk, a more diversified income fund can do it for you. If your husband is 74 years old and you are 62 years old, the money can be invested over a long period of time.

The only people who really understand your need for money and the level of risk you are happy with are you and your spouse.

But I don’t see how leaving money in a savings account would be a great idea in the long run.

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