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Question for the Money Doctors

Question submitted on May 24, 2019.

Question

I am 70 years old , and my question is , What is a better investment for increasing my monthly stream of income ( I am retired on a fixed income ) Ira Accounts, C.D.'S. Fixed Annuitys , or Conservative Mutual Funds ?.
Thank You

Answer

Bank IRA accounts pay the lowest rates currently (however, they are FDIC insured put to a certain amount).

Fixed annuities normally pay higher rate and some will offer "lifetime payments or item certain payments should you pass away). Conservative funds have no guarantees and may cause a loss of principal.  

If you own a house apartment or condo have you investigated a reverse mortgage?

Another suggestion is to make a loan secured by Realestate. Normally only 2% of the value of the real estate value should be considered, this as, with equity on the land the ability to recover your investment may also generate a gain for you. Please real the interest rtes on a mortgage loan to a reputable organization would most likely generate your largest stream of income.

Should you wish to discuss this via telephone I will be glad to explain each and every option in great detail. These are normally the large set income producing income stream. They also depend on the amount you are seeking to invest to generate this income. If you would like a person free discussion about your specific situation it is absolutely free to have that discussion. Please reach out and my telephone number and /or email will be provided. Always double check ant offers with family or legal advice (as well as advice from someone such as a CPA.

I wish you the best. 


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