[GeoGeo]

DH has an IRA inside a fixed annuity. It has matured. Need to do something with the money. Going to renew at 0.5%, if nothing done. He is not an investor and does not understand stocks, etc. He wants something safe that pays a better return and he will not lose any money. Seems like a lot of people push those fixed indexed annuities that sound too good to be true. Most people advise against them. What options does he have since it is IRA money, the only money (except for some savings) he has? Being a senior he doesn't want to lose any in the stock market. Suggestions?

[billethkid]

check with your bank to see if they have a securities advisor or counselor. Most of the bigger banks do. I use Wells Fargo Securities in Orlando.

They do not "sell" or make commissions on what they recommend.

Ask about fixed income generating products.

You should be able to get anywhere from 3.5-5% return type investments.

Good luck.

btk

[mistamick]

American Express offers .85%. FDIC insured. Not much but offers a comfortable pillow to rest your head at night.

[justjim]

DH needs a competent honest Financial Advisor. There are many "safe" places for the IRA. Perhaps someone can recommend one in TV---I'm sure DH would not want to go to Illinois.

[l2ridehd]

With EVERY investment risk and reward go hand in hand. You want a higher return, you take on greater risk. For a safe guaranteed return, use bank CD's. Probably an online bank like Ally has the better rate of return because they have no bricks and mortar. When anyone promises you a higher return then seems normal, they are also giving you higher risk. If someone is willing to pay you a 5% or better return for using your money, it's because they can't get it for less any where else. And if they can't get it elsewhere for less it's because they have credit issues of some kind or the risk on that return is greater. That applies to stocks, bonds, annuities, real estate, any and all investments. There is only one reason why anyone will pay you a higher rate of return. Because they have to.

[jojo]

Originally Posted by l2ridehd

With EVERY investment risk and reward go hand in hand. You want a higher return, you take on greater risk. For a safe guaranteed return, use bank CD's. Probably an online bank like Ally has the better rate of return because they have no bricks and mortar. When anyone promises you a higher return then seems normal, they are also giving you higher risk. If someone is willing to pay you a 5% or better return for using your money, it's because they can't get it for less any where else. And if they can't get it elsewhere for less it's because they have credit issues of some kind or the risk on that return is greater. That applies to stocks, bonds, annuities, real estate, any and all investments. There is only one reason why anyone will pay you a higher rate of return. Because they have to.

Well stated. How true!