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vic asked in Business & FinanceInvesting · 2 months ago

Is 60 too old to invest money? What to do with an extra $500 a month ?

7 Answers

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  • 1 month ago

    Do something you have nothing to talk about if you don't. 

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  • 2 months ago

    One is NEVER too young or too old to invest.

    .There are many people just like you that are, or were looking to invest and those that did bought Mutual Funds and/or Exchange Traded Funds (ETFs).  One purpose of mutual funds is to help investors like you, who are either just entering the investment world or who have no investing experience.  Once you feel you at least have an understanding of investments you should look into ETFs which are similar to mutual funds but are traded on the exchanges. 

     

    Mutual Fund companies as well as ETFs and Master Limited Partnerships have an entire array of products many will fit your needs. Read about the various products and in doing so you will be getting investment ideas and at the same time educating yourself about investing.  And take the time to read “Common Sense on Mutual Funds” by John Bogle & David Swenson, or just read – “Bogle on Mutual Funds” by John Bogle. 

     

    You could also contact the funds companies for more information.  I have found that Vanguard (http://www.vanguard.com/) & Fidelity Investments (https://www.fidelity.com/) 

    can meet your needs for mutual funds.  The service and information they provide is all free and you will find it helpful.  You can also read about Master Limited Partnerships at “the Dividend Detective” http://www.dividenddetective.com/   

     

    Regardless of what you decide, do not ever let anyone tell you not to invest, especially those that do not invest themselves. 

    Good luck on your journey 

    Source(s): from The Street
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  • Bryce
    Lv 7
    2 months ago

    Vanguard mutual fund VFINX is a good one with low fees--0.0004%.

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  • casper
    Lv 4
    2 months ago

    You can invest in your local charitable donations. You can randomly pay it forward to help peoples everyday life's. I like to pay for the person behind me at the drive thru to make their day. Money does not solve everything, but it shows kindness in heart when you give to those who are may be living a tough life. I've even paid for someone grocery's that had 5 kids. Any line you wait in, pay for the one behind you. You never know what that person could be going through. Hell last person I helped, he said he almost committed suicide because life was that bad on him and his family.. I'm not going to go into detail, but I didn't know the guy. But you can guess, his life has gained a new perspective.

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  • Judy
    Lv 7
    2 months ago

    Not too old. invest it.

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  • 2 months ago

    In my opinion one is never too old for anything one wants to do.  Plan like you're going to live forever, live like you are going to die tomorrow.  And that applies at any age. What to do with the money?  Well that's up to you.

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  • 2 months ago

    no. not too old. you're probably going to live at least 5 and possibly 10 to 20 years longer than you've likely budged for. best to put what you can into continued investment sources. i'd think most advisers would recommend ultra low risk investments for someone at 65. for you moderate risk maybe. high risk if you don't care if you lose it.

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