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Did you know that approximately forty percent of investors between the ages of 60 and 69 hold about two thirds of their portfolio in stocks? As we get older, it’s important that we do all the research we can to make sure our finances are secure. The value of the dollar constantly fluctuates over the years, so the true value of our money needs protecting.
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After retirement, you may be looking for just the right way to expand your wealth. Luckily, there are plenty of investment options for your to choose from. Here are some of the best safe investments for seniors.
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1. Dividend-Paying Stocks
Dividend-paying stocks make safe investments for senior citizens for one primary reason above all: steady, passive income.
When you invest in the stock of a trustworthy company, you can expect to receive dividends in a consistent and reliable fashion, even when the stock market itself isn’t doing well. A company that is strong enough to stay profitable throughout economic tumult can be expected to offer stable value to its shareholders.
2. Silver: One of the Most Safe Investments For Seniors in Precious Metals
Precious metals offer numerous means of safe investing for seniors, but many see silver as among the most consistent when it comes to maintaining value.
Silver is a tangible asset, a physical item that holds value throughout ups and downs in the economy. On top of that, it’s also cheaper than gold, and can thus be purchased in safer, more specific quantities when you shop for silver online. In many cases, it even sees higher returns than gold as well.
3. Annuities
Annuities can prove a very worthy addition to any investment portfolio. An annuity is a contract between you and an insurance company, promising regular and equal payments to your savings account over time. The reason such contracts exists is to protect older people from the possibility of outliving their income.
Investing in a fixed annuity requires commitment and certainty since pulling out early can result in penalization, but there’s always a guaranteed return in the long run.
4. FDIC-Insured Savings Account
With high-yield savings accounts protected by the FDIC, you won’t need to worry about your money losing value. The interest compounds daily and there are no complicated fees involved with the process. With traditional savings accounts, the yield for return is far lower.
The biggest perk of an FDIC-insured savings account is investing as much money in it as you want, then watching it expand day-to-day.
Stay In the Know and Protect Your Money
At the end of the day, no two investors are alike, and there is still a wide world of safe investments for seniors. Everyone’s financial situation is different, so there’s no easier way to start protecting the value of your dollar than staying informed and ahead of the curve.
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