Where can I find some faqs or basic information regarding retirement investing? I’ve been doing some research and all the information I’ve found is so confusing.
The situation is this. My dad is about to retire and he’s just trying to find out what type of retirement investing options are out there and what they entail?
Any information or links would be really appreciated. Thanks!
Sorry I’m not sure if retirement investing was the proper term. Please feel free to correct me and tell me the exact terms I should be researching. Thanks again!
Susie T 7:46 pm on October 19, 2009
Your dad should also start reading Money magazine and Kiplinger’s so he can start to understand the terminology.
He should not invest in anything he does not understand. he should understand the risks of anything he invests in; there are different kinds of risk.
He can talk to people at Fidelity, Vanguard, Schwab or T Rowe Price for advise on diversification.
If it seems too good to be true, it’s a scam.
Average return of the stock market over the past 70 years has been 11%/year. Anything more than that entails more risk. Bonds are about 5% but generally safe, however there are lots of different kinds of bonds (Treasury, corporate, muni, hi yield) and each entails a different amount and kind of risk.
If you can’t do it yourself, hire someone who knows how. Check out your advisor on the S.E.C. web site for registered advisors:
http://www.sec.gov/investor/brokers.htm
I am a Certified Financial Planner who has worked with investment advisors for 25 yrs. Some are paid by the hour, some are paid a percentage of assets under management or some agreed-upon method. There are good ones and bad ones in each category. Charging a commission does not necessarily mean a self-interested advisor.
Good luck!
sassy25 7:46 pm on October 19, 2009
Retirement investing is started 30 yrs before you retire, not after
What your dad needs is Safe products that will provide income.
Treasury notes, cds. You both should talk with a financial adviser, not one associated with a company but one you pay by the hour.
He/she can discuss how much dad has to invest, how much income he needs to live and where to invest.
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