5 Recommendations to Invest for Retirement at Age 60
How to invest for retirement at age 60? To guarantee your life after being retired, it is reasonable to provide a retirement fund. If you are lucky, your company may have prepared it all. Unfortunately, many companies in the world only give severance pay without giving them regular pension payments. To solve this problem, you may not have other choices unless preparing it by yourself. Interestingly, there are some options for retirement investment you can choose. What are they?
5 Best Investment Options for Retirement at Age 60
1. Insurance or Pension Fund
Joining insurance or pension funds is chosen by many people nowadays to guarantee their future. Many companies and banks have provided this feature so that you should not worry about it. All you need to do is save a certain amount of your regular payment. But of course, this method is sometimes risky mainly if you are not choosing the right bank or company. Starting from now, before deciding to join one company, doing things like survey or observation is needed.
2. Stock Investment
Stock investment is one of the options to multiply the value of money in a certain period of time. The money to invest is in the form of stock or share in a company. Of course, the company chosen must have a good and trusted business pattern and management. Indeed, it needs experience and knowledge to avoid you from choosing the wrong company. You can conduct a small survey first to know what company that is promising enough to keep your stock. If you are lucky, the company may give you much more money than what you have invested in the beginning.
3. Financial Technology Investment
Some financial technology companies release peer-to-peer lending products that are considered beneficial for investment. The risk is low and the profit is predicted to be up to 24% per year. Well, it is quite promising and competitive with other investment products for retirement. But again, the company’s reputation and credibility are what you need to think about since the beginning. You need to learn about the credit rating. The higher the credit rating gained by the company, the risk to face by investors is bigger also.
4. Mutual Fund Investment
Mutual fund investment is the next investment product to give you more than enough benefits for investment. Interestingly, you don’t need to be very experienced in it. Yes, the performance is done by the managers and teams starting from choosing the stock portfolio, market, deposit, and more. You only need to choose a product that is in line with your target. When the value is increased, you can sell some units of mutual funds to get the profits.
5. Gold Investment
Gold investment is chosen for its minimum risk. Unfortunately, only a few people consider it being a retirement investment product. There is now a product namely Gold IRA that is intended for retirement. Even the gold as the warranty can be held by the investors themselves. Gold investment is also managed by banks and other financial companies. Sure, you must choose the best one to minimize risks in the future
There are all about how to invest for retirement at age 60. Let’s prepare for retirement from now