Disability?

December 8th, 2009 | by admin |
disability
heartache53 asked:


I am 55 on disability my wife and I are seperated and have sold our house I have about 23,000.to try and makesome intrest on that plus I live with my father and can put more in per month.I kow it is not much but I don’t want to let it sit in a checking account.any advice?I am not Market savvy and mainly conservative now that I control my money again

Douglas
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    1. No Responses to “Disability?”

    2. By sporregar on Dec 10, 2009 | Reply

      Depends on how risky you want to be.

      High interest savings account is nice. ING Direct has a nice one. Not sure, but I’ve heard there are others out there too.

      You can buy mutual funds, dividend stocks, index funds or individual stocks outright from many companies. Chose ones with low fees and no loads. Check into Vanguard, Principal and Fidelity.

      You should probably consult with a legitimate financial planner and figure out what’s best for the long term. You’re on disability and will probably be getting more social security or something and your money needs to last you the rest of your life. You also need to consider tax consequences on your choices and what you do with your money.

    3. By foxfire on Dec 11, 2009 | Reply

      Personally I like CD’s. But I know people that have invested in Fidelity Mutual. They use your money to invest and it fluctuates with the stock market. I had it but I didn’t make much to speak of with it.But you had better check with disability if you have money you have to declare that to them!

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