💰 Sometimes investors end up with money they won’t ever need and want to know what to do with it. Here are 8 ways to invest your excess money in retirement.
Sometimes investors end up with money they won’t ever need and want to know what to do with it. Most often, people who must take required minimum distributions from retirement accounts — but don’t need the money to live on — have this “problem.”Unless you have set up a trust, this surplus money won’t just sit in cash for the next 150 years. Someday, it will go to somebody or some organization.
One easy way to do that is to invest in a target-date retirement fund with a target year close to their 65th or 70th birthday.If the money will one day go to an organization, you could invest it the way many long-term endowments are set up: with an equity allocation in the neighborhood of 60%.For one, you could spend it on consumption by buying things: real estate, clothes, vehicles, yachts, collections of whatever interests you.A third option is to give your money away thoughtfully.
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