The 5 Smartest Investments for Seniors

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“Getting old is like climbing a mountain; you get a little out of breath, but the view is much better!”
Ingrid Bergman

As we age, our perspective changes, as do our priorities. For example, money. When we’re younger, we’re all about spending. As we age, we drift toward preservation: having enough to maintain our lifestyle and enjoying all that life has to offer.

Wherever you find yourself in life, here are a few ideas that will help your golden years stay more golden.

1. Secure your wealth with gold

If a large part of your savings is in the stock market — as it should be — you’re well aware that what goes up can also go down; sometimes by a lot.

You can’t control the stock market or the world economy. But you can hedge against uncertainty by having other forms of wealth.

The oldest and most ubiquitous hedge is gold. It’s been used for thousands of years to protect against everything from inflation to currency devaluation to political risk.

Don’t go overboard; most pros advise putting only as much as 10% of your portfolio into the King Midas metal.

And keep in mind that not everyone in the gold business is on the up-and-up. Be careful whom you deal with.

Goldco is one company to consider. They offer just about everything, from precious metal IRAs to direct purchases of precious metal coins and bars.

They have an A+ BBB Rating, AAA Rating from Business Consumers Alliance and 4.8 to 5 stars on Trustpilot, Trustlink, Google Reviews and Consumer Affairs. You’ll even receive up to $10,000 in free silver on qualified purchases.

Maybe gold is right for you; maybe it isn’t. But if you’ve ever wondered, why not take a quick look? Click here right now and get your free information kit.

2. Get a second opinion

Obviously, you’re no fool when it comes to making money. If you were, you wouldn’t be reading this.

But there comes a time in life when it makes sense to get a second opinion. Sure, you’ve been successful at growing and managing your savings. But the more you have, the more attention your savings require and the greater the ramifications of screwing up.

A study by investment firm Vanguard found that, on average, a hypothetical self-managed $500,000 investment over 25 years would grow to $1.7 million if you manage it yourself, but more than $3.4 million if you work with a professional.

Obviously, there are no guarantees a professional will do better than you. But getting a second opinion from a pro certainly can’t hurt. Even if you don’t need help picking investments, they can help you create a plan, maximize your Social Security, protect your assets and offer you peace of mind by ensuring you’re on the right track.

They can also be there in case one day you’re not.

These days, there are no-cost online services that make it easier than ever to find vetted financial advisers in your area. For example, SmartAsset. You fill out a short questionnaire and are instantly matched with up to three local fiduciary financial advisers, all legally bound to work in your best interests.

The process only takes a few minutes, and in many cases you’ll be offered a free consultation.

Nothing to lose, lots to potentially gain: Take a minute and check it out right now.

(Please carefully review the methodologies employed in the Vanguard white paper, “Putting a Value on your Value: Quantifying Vanguard Advisor’s Alpha.”)

3. Protect yourself from scammers

According to the Department of Justice, last year more than 92,000 victims over the age of 60 reported losses of $1.7 billion from fraud, including romance scams, investment fraud, government impersonation, and tech support fraud.

People who rip off the elderly have earned themselves a special place in hell. Don’t make it easier for them to steal your financial security.

Protect yourself by following simple rules like not clicking links in emails from strangers, not answering calls or texts requesting personal information, and protecting your identity.

One of the easiest ways to stop identity theft is with a monitoring service like LifeLock. It only takes a few minutes to enroll, then they’ll constantly scan for threats to your identity. If they find something shady, they alert you by text, email, phone or mobile app.

LifeLock is confident: should you become a victim, you’ll get a free, U.S.-based specialist who will help you fix it, and you’ll be reimbursed funds stolen due to identity theft up the limit of your plan.

The cost? As low as $7.50 monthly. That’s pretty cheap peace of mind.

Identity theft protection won’t stop every crook and every scam. But it’s a good place to start. Go to their site right now, check it out and see if it makes sense for you.

4. Don’t let home repairs drain your savings

Home repairs aren’t cheap. Whether it’s a leaky roof or a broken appliance, your home can quickly become a nightmare and cost you hundreds or even thousands of dollars to fix.

But you don’t have to worry. Luckily, with a company called America's 1st Choice Home Club, you can safeguard yourself against giant repair bills. From home appliances to electrical, plumbing, heating and cooling systems, it can all be protected.

Plus, their in-house service team is available 24/7 to help and ensure a hassle-free repair process if anything goes wrong. You can even choose your own technician, or they can send you one from their nationwide network if you don’t have someone in mind.

All over America, homeowners are choosing AFC Home Club for the savings, service and peace of mind that it delivers.

Stop worrying about household breakdowns, and get a free quote in 30 seconds.

5. Drive with peace of mind

If you’d rather not have to deal with huge car repair bills, test-drive Carchex.

A CarChex vehicle protection plan will work at any licensed repair facility in the United States, from independent shops to dealers.

The shop diagnoses your car, gets approval from CarChex, does the repair and then gets paid directly from the company.

I know. Extended car warranties are the poster child of ripoffs. But CarChex is the real deal. They have an A+ Rating by the Better Business Bureau and are recommended by companies like Carfax, Kelley Blue Book and CarBuyingTips.com.

It only takes a few seconds to get a free, no-obligation quote. What have you got to lose? Click here and check it out.

Bonus: Get free, expert advice on everything money-related

What’s free and gives you tips to spend less, make more and avoid rip-offs? The Money Talks Newsletter. Every day we provide free tips and tricks that will make you richer. And it doesn’t cost a dime.

Our readers report saving an average of $941 with our simple, direct advice.

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