People usually think about making investments when they are younger, so that they can enjoy their retirement years to the fullest. This is basically common sense. When you invest in something while younger, you’ll certainly be able to enjoy the returns in your retirement years. What happens, though, if you are already over 90 and you begin getting concerned about running out of your retirement money? Should you just make your peace with it and do nothing to change the situation?
Well, the answer to that question should certainly be clear to everyone. Ignoring the situation won’t bring anything good to the table, and you will find yourself struggling financially. Since that is not what you want, let me remind you of one simple thing. It is never too late to make great investments. Even if you are not struggling financially, you may want to try your luck out with certain investments when in your nineties, and basically work towards increasing your capital growth.
You may think that the money you have saved up so far is enough and that you won’t run out of it during your lifetime, but here is the thing. You cannot predict or control inflation, meaning that you could easily wind up losing a lot regardless of how much you have already saved. This is why you should always search for safe investments when in your nineties, because risking it might not be the smartest move for you.
Of course, some people want to take certain risks for one reason or another, and if you are in that group, nobody will stop you from doing that. Nevertheless, playing it safe is always a much better idea. So, if you want to play it safe, you should click here to learn more about the safest investment options that you can use when you are over 90. Apart from that, you can also read on, because I will tell you about some of those investment options in the rest of this article as well. Here we go.
1. Dividend-Paying Stocks
When you become a shareholder, you can expect companies to pay you dividends on a regular basis, meaning that you will secure a steady flow of income. This is certainly one of the safest options that you can use, because you will get the dividends even if the stock market isn’t doing so well at a certain point in time. Thus, if you like to have a security blanket, so to speak, over your investments, this could be the perfect option for you. You will get the stability you are after by getting a constant and reliable flow of income.
We cannot deny the fact that all investments come with certain disadvantages, no matter how safe they are. So, while dividend-paying stocks can secure you a steady income during your retirement, there is one risk that you should be aware of. The companies could, at some point, decide to make certain changes and stop paying those dividends. In short, this is not a risk-free option, but it is still among the safest ones out there.
2. Certificates Of Deposit, or CDs
Certificates of Deposit, also known as CDs, are another safe investment opportunity for seniors. These basically function as a savings account featuring a fixed interest rate over a certain period of time. You can buy them from credit unions, brokerage firms and banks. So, essentially, you put aside a fixed amount of money for a fixed period of time and you generate interest on it. Then, when you redeem the CD, you get the money you invested back, and you also get the interest that you have generated.
This investment type doesn’t carry many risks, because you are guaranteed a return on your investment. On top of that, the interest rates are bound to be higher than the ones you can get on those traditional savings accounts. Nevertheless, there is still one thing you should be worried about here. Basically, you need to do your best not to fall for certain scams by working with people who claim to be deposit brokers even though they aren’t. Plus, you should also know that there is a penalty for those people who decide to withdraw the funds before the specific period of time is over, meaning that you should always wait for the CD to mature in order to redeem it.
Read some more about safe investments here: https://www.investopedia.com/articles/retirement/060816/boomers-top-4-safest-investments-your-portfolio.asp
3. Precious Metals
When speaking of investments in the modern day and age, we cannot fail to mention precious metals. This is a slightly newer option, but people have definitely figured out how beneficial it can be, which is why it has become rather popular. If you are looking for greater returns in a shorter period of time, if you want to protect your capital, have the perfect hedge against inflation, as well as diversify your portfolios with assets that don’t really play by the stock market rules, then precious metals could be perfect for you.
Palladium, platinum, silver and gold are among the most popular precious metals that people invest in nowadays, and they have proved to be the safest options. Even if the economy is generally not preforming very well, these assets will retain their value, meaning that your money will be quite safe when you invest it in precious metals. Apart from retaining their value, there is also a great potential for price increases when it comes to precious metals, which is another huge benefit. Furthermore, these can be bought pretty easily, and the simplicity of the process is also appealing to everyone.
Speaking of buying these assets, let me tell you more about how you should do that. Simply put, there are some quite reputable dealers that you can buy from either online or in person. Your task is to find those dealers and choose the best ones for you. Take your time to research them before making this choice, because you don’t want to assume any more risks than necessary by making the wrong choice.