5 Safe Investments for Seniors

As you get closer to or enter retirement, your investment priorities may begin to change. Growing your money is still important, but protecting what you've already saved can become just as important.

Here are five options seniors may want to consider when looking for safety and stability in retirement.

1. Certificates of Deposit (CDs)

CDs offer a fixed interest rate for a specific period of time and are generally FDIC insured when held at an FDIC-insured bank and within applicable limits.

They're simple and predictable, but your money may be tied up until the CD matures.

2. U.S. Treasury Securities

Treasury bills, notes, and bonds are backed by the U.S. government and are generally considered among the lowest credit risk investments available.

They can be a good option for retirees who place a high priority on preserving their money.

3. Multi-Year Guaranteed Annuities (MYGAs)

A MYGA provides a guaranteed interest rate for a set number of years. Unlike a CD, a MYGA is an insurance product, and its growth is generally tax-deferred until money is withdrawn.

For someone who wants predictable growth without stock market exposure, a MYGA may be worth considering.

4. Fixed Indexed Annuities

A fixed indexed annuity offers the opportunity to earn interest based partly on the performance of a market index while protecting the contract from direct stock market losses.

One tradeoff is that with this safety comes the understanding that you generally won't receive the full return of the index.

5. Income Annuities

One of the biggest risks in retirement isn't simply losing money --- it's outliving it.

Certain annuities can turn a portion of your retirement savings into guaranteed income that can continue for the rest of your life. For retirees concerned about making their savings last, this can create a pension like source of dependable income.

Safety Means More Than Avoiding the Stock Market

There isn't one "safest investment" that's right for everyone.

A CD may be great for money you need relatively soon, while a MYGA may make sense for money you don't need immediately. An indexed annuity may appeal to someone who wants protection with some growth potential, while an income annuity may be appropriate for someone primarily concerned about guaranteed retirement income.

The important question isn't simply "Which investment pays the most?"

It's "What job do I need this money to do?"

At Forever Healthy Insurance Solutions, Medicare Melanie believes retirement planning isn't only about your Medicare coverage. Protecting your health, your income, and the savings you've worked a lifetime to build are all pieces of the same retirement puzzle.

Forever Healthy® Insurance Solutions - Medicare Melanie, Licensed Agent

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(904) 582 - 8067

This information is for educational purposes only and is not individualized investment, tax, or financial advice. Annuity guarantees are subject to the claims-paying ability of the issuing insurance company.