This blog gives you tips for achieving your business, professional and personal goals.

Where to Invest Your Hard-Earned Money After 65

You have saved responsibly toward your retirement for many years, and now that special time has arrived. No more reporting to work each day, as you will now have time to enjoy doing other things you have put off for so long.

However, is the amount you have saved enough to see you through retirement? Will it cover your travel aspirations? What if an emergency occurs?

Here are things you can do with your retirement savings to make them work for you:


In most cases, financial crises can be prevented by having insurance to cover you in an emergency. Premiums might seem an unnecessary expense until you need the coverage they offer. 

For example, car insurance ensures that you can have your car repaired or replaced after an accident, fire, or theft. Life insurance allows you to leave your loved ones the means to cover your outstanding debt when you die and still have a nest egg to invest afterward.

While you might be entitled to Medicare being over 65, there are many copayments, and some parts of the program are not covered. Medigap or Medicare Supplement Plans, as they are also known, help seniors by adding to their Medicare Parts A and B coverage. 

They are sound investments that can save a lot of money in the long-term, according to Russell Noga, owner of Long-term care insurance will help if you must have support at home or move into a nursing home.

Real estate

If there is one investment likely to appreciate more than others, it is property. While there are several ways to invest in real estate, seniors are advised to be discerning about who they trust with their money. 

Real estate developers have been known to swindle older folks out of their life’s savings in the blink of an eye with zero remorse. Research the people you will be investing your money with and take professional advice to avoid being caught out this way.

Another option is buying rental properties and using the rent from tenants to pay off the mortgage with a little added income for you. Property owners must be careful about tenants, ensuring that they do not default on payments or damage the house. 

This could get even worse if you have several properties. However, rental agents can make things easier, provided you are prepared to pay them a percentage of each rental payment received.

Stable investments

Bonds offer investment stability that can become a steady source of income. Prudent investors put at least half their retirement savings into products like bonds because of their predictability. They do not offer extremely high returns but work as an investment with a guaranteed, stable income. 

Another stable investment is a reserve savings account, which you hold for emergencies. This is not a money-making investment as the balance will not earn much interest. However, it is a safety net that could become essential during unforeseen circumstances.

Dividend income funds

If you want to invest in the stock market, consider dividend income funds as they are less risky than direct share investment. With a dividend income fund, your capital is invested in a range of companies on your behalf, an ideal way to ensure a net gain. Dividend income funds are the direct equivalent of not putting all your eggs in one basket.

However, like stock market investments, dividend income funds come with a degree of risk. Ensure it is one you can live with by not investing most of your money in this way, as volatile markets could see you losing some hard-earned money.

Posted by Emily Dawson on Nov 16, 2020 2:51 AM Europe/London

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