Picking good investments to put your retirement money and can be a little tough if you never had any training so in this article I’m going to give a little help as to where to put your money at, based on age.
Age 20 to 45
At age 20 to 45 your just starting out on your retirement savings and it’s OK to take more risk with your money because you have time make it up if you do happen to lose a little. Now this doesn’t mean you should be looking for the most riskiest of investments either. Instead I recommend that you stay with mutual funds because this will allow you change the amount of risk you want to take over time. On top that I also suggest you invest into more of a moderate growth to growth portfolio. The funds invest mostly in stock will possible produce higher returns over the long run.
Age 45 to 60
By the time you reach age 45 you will want to cut down your risk since retirement is within 15 years and one bad down turn in the market could leave you with a big loss and with just 15 years to go it may be a bit hard to make that up. So I suggest you move your portfolio into a moderate to conservative portfolio within your mutual fund to cut down on the amount stocks in your portfolio and increase the amount of bonds.
Age 60 plus
Finally, once you reach age 60 and beyond retirement can happen at any time. At this point is were I suggest only safe investments. These investments would be only those that do not lose any value. Unlike mutual funds these investments are not the best place to keep your money anymore. In fact this is why I suggest either a certificate of deposit at your local bank, or a money market fund. These investments have generally weathered well against negative economies and kept peoples money safe.
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