Personal Finance Advice For Seniors
Personal financial advice for seniors can help them to allocate their assets wisely in an uncertain economic environment. It is better for seniors to stick with investments they feel comfortable with, and they need to make sure that their overall investment strategy takes account of their age, income needs, risk tolerance and other objectives. For those that have a large portion of their IRA sitting in cash, or in a single bond, this can be a concern because having too much of your portfolio in single bond presents.
Also, with money market rates below 1% this is not an ideal strategy for income. A more conservative allocation strategy would be to allocate a portion of the portfolio to high-quality, short-term bonds and high-quality dividend paying stocks. In certain cases, some types of annuities for your IRA make sense as a portion of your portfolio as well.