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Owning your home can make you feel more secure as a retiree. So can having a nest egg to draw from. If you have $143,000 in cash, you should be doing something with it, as having that much money sitting in the bank isn’t a good idea. You risk missing opportunities and the value of your money eroding due to inflation.
But what should you do with that money? Since you’re already retired, you have to be a little more cautious about your investment options than your younger counterparts — at the same time, $143,000 isn’t enough money to live off forever, but you can’t afford to be too conservative either. Fortunately, if you already own a home, you at least know you’ve got an asset to fall back on if needed.
Here are some things to consider…
