Safe Investing of Money Sitting in a Bank Account and Collecting ZIP!

By mzlederock, June 24, 2014

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

I am a recent beneficiary of an traditional IRA invested in stocks with Fidelity. I am retired with a mid sized pension and want to relocate and buy a house, but didn’t take out all the money at once in order to avoid being hit with what I see as large and unfair taxes. I took out a portion at the end of 2013 and will do so again at the end of 2014, hoping to buy in 2015.
The cash I took out is presently stagnating in my savings account. I don’t believe I can afford to lose any of this money but do believe that I can make some kind of investment which has minimal risk. I really know very little about the various markets and investing, but would greatly appreciate some advice on how I can safely do a little better than the current interest bank rates.
Any ideas/suggestions?

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