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QUESTION:
Invest in retirement
I have a lump sum of $20,000 (inheritance) to invest - I'm 55 and have very little income but am surviving - I have no retirement. I need a safe way to invest. I have been looking into annuities and other possibilities. I want the absolute safest way to invest and a good return. Don't forsee needing it for at least 7 years
	asked by thebeachartisan, 3/16/2010
Categories: Pre Retirement

ANSWERS:
	Answered by: Editorial, 03/24/10 Overall Rating: Be the first to rate it.
For your $20,000 investment, you might want to look into Treasury Inflation Protected Securities (TIPS). Wikipedia discusses this product here: http://en.wikipedia.org/wiki/Treasury_Inflation-Protected_Securities#TIPS I would also urge you to learn as much as possible about retirement planning. You are relatively young right now and still have time to save. You say that you might want to tap this investment in seven years... At that time you will only be 62 -- perhaps you should wait and retire later. Retirement Planning 101: http://www.newretirement.com/Services/Retirement_Planning.aspx Retirement Risks: http://www.newretirement.com/Services/Retirement_Risks.aspx Advantages of Delaying the Start of Social Security: http://www.newretirement.com/Services/Social-Security-Benefits.aspx Login to rate this answer:
	Answered by: Suze Ortoman, 04/06/10 Overall Rating: Be the first to rate it.
I would strongly encourage you to investigate putting that money to work for you with minimum risk and maximum return. I am talking about tax liens. Several states offer as much as 25% return and the liens are backed by the property. Little known secret but the wealthy routinely put their money in tax liens for growth. Login to rate this answer: