The 6 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 about 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.

American Hartford Gold is one company to consider.

American Hartford has a five-star rating with Trustpilot and an A+ rating with the Better Business Bureau. If market volatility’s got you down, or if you just want to invest in an essential (and tangible) commodity, give American Hartford a try.

Note: American Hartford is available only for those with at least $50,000 to invest. Too much? Another quality company, Lear Capital has minimums as low as $15,000.

See why thousands of Americans are turning to gold and gold IRAs to protect their wealth. Get your free investors kit today!

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 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. Make more money

It used to be that investing in commercial real estate, like apartment or office buildings, required lots of money and lots of expertise.

Not anymore! Thanks to an online investing platform called Fundrise, now people with modest amounts of money can own a slice of a real estate portfolio.

Fundrise tears down the traditional barriers needed to invest in real estate property, and so far over 1.7 million consumers have used Fundrise to invest in commercial property.

It takes as little as $10 to get started, the platform is easy to use, it’s open to all investors (of all experience levels) and there are other investment options too, like IRAs.

Fundrise has delivered an average annual rate return of 5.29% over the past five years, a stark contrast to the average, annual 0.23% interest your money gets by sitting in a savings account.

Of course, nothing is guaranteed, and past performance is no indication of future results. Still, Fundrise has the potential to make more than you’re making now in the bank — or under the mattress. And you can get your feet wet for as little as $10!

Note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on moneytalksnews.com. All opinions are our own.

4. 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 IdentityForce. 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.

Don’t take our word for it. Forbes Advisor gives them 5 stars saying “…no other service offers you as much in return.” U.S.NEWS says “IdentityForce provides comprehensive identity theft protection, including protection against medical identification fraud, cyberfraud, and …junk mail opt-out.”

Identity theft protection won’t stop every crook and every scam. But it’s a good place to start. See if IdentityForce is right for you and start your 30-day free trial today!

5. 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.

6. Drive with peace of mind

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

No matter which plan you choose, you’ll get 24/7 roadside assistance and rental car benefits while your vehicle is in the shop. You’ll also get a free year of the Elite Benefits program, which includes key fob replacement, complete tire coverage, a collision discount and $1,000 if your car is declared a total loss.

If your car breaks down or just needs service, just contact Endurance via phone or their mobile app. (Help is available 24/7.) Vehicles up to 20 years old are covered, and you can choose a shop from the network of more than 350,000 ASE-certified repair facilities across the U.S. Endurance pays upfront for the repair, so all you’ll be responsible for is the deductible.

Endurance has a 4.4-star rating (out of five stars) with Trustpilot. A review from ConsumerAffairs.com calls the company “particularly appealing to those with older cars,” and a “solid choice” for all drivers.

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