I rolled a 58000 dollar retirement lump sum into an ira because the co. was sold. What should I invest it in?

I will need it next aug. when I retire so it will be short term

i have invested over 100k in asset management , made 3% to 10% monthly, they have 5 years in market ,The trader have only the Power of Attorney and i can revoke it whenever i want and i watch the trader job 24 hours daily by platform online. i'm happy to make money with them safely. great and wonderful , take a look what i have shared with you.Recommended ! Good Luck!

Put it in a money market or CD.since you need it in a year..Make sure it is something solid with little to NO risk..DO NOT drop your 58000 into anything risky...The market is going crazy right now and will until after the election.

Bob,

Bob, you need to disregard the other answers below, as they are mostly factually inaccurate... except the "kelly needs new shoes fund" - that just might be a good investment.

IRA's DO NOT work like a mutual fund. Think of an IRA as a shopping cart in a grocery store, and the store aisles contain every type of financial product. You can place in and take out any financial product you like, you just can't leave the store until you are 59 1/2. An IRA by itself would be an empty cart. You certainly can invest in mutual funds with your IRA, but you can also invest in stocks, bonds, cd's, etc. Having an IRA means that you have an account that is not taxed on any gains you may have when you do make investments (there is more to it than this, but that is the basic premise).

Now the decision you need to make is "what to put in the basket". Before you can decide, you need to look at many variables... 1. How old are you (how far from retirement are you). 2. What is your investment experience / risk profile. What this means is that if your statement came back after one month and was 55k instead of 58k, would you shrug your shoulders and have faith in the future, or would you throw up right then and there and consider running a hose from the exhaust to the drivers side window. 3. Do you have any other investments?
The answers to these and a few more questions will provide some color and clarity on the types of investments you should be looking at.

If you are going to try and find an investment advisor - which it sounds like you should do - find one who has been around, and has the experience to give you sound advice. Also, ask them how much money they have in the market - if it is less than what you have to invest - walk out.

Good luck.

Mike

You should stick with low-risk investments. What options are available in the rollover IRA?

high interest saving stockmarket is too risky if you already have that much saved up just put it in a high interest savings

Hi...If you would have 6-7% monthly return on your investment,please feel free to contact me

regards
luca

The "Kelly needs allot of new shoes" fund:)

i accept Paypal.

You are already investing it - the IRA works like mutual fund plus this morning the government announced that is going to guarantee retirement investments.
This is your retirement safety net. I'd think twice before use it for anything else.

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