I recently retired.  In addition to my pension, which is a state pension,  I have been saving money to supplement my retirement years.  All of my savings are with a large investment company.  Even though my investments are now conservative and fairly low-risk, none of it is guaranteed, e.g., having savings in CDs in the bank.  I'm wondering since investments are not guaranteed, if I should be moving some of my money into a "safer" place, e.g., CDs?  I feel fairly comfortable with my investment advisor's recommendations and advice, but have a friend who keeps telling me if the market keeps declining I'm risking losing everything.  I just don't know who to ask for advice about this and would appreciate hearing what you have to say.

 

 

 

 

If your retirement money in a CD is an IRA, then FDIC will protect it up to $250,000
If your retirement money is not an IRA, then FDIC will protect it up to only $100,000.  Secondly, if your money in a CD is non IRA money, then you're going to pay tax on the interest it accrues., i.e. A CD earning 5.25% after taxes really pays only 3.25%.  This interest can have a negative effect on your Social Security income...be careful

Fixed Annuities will insure your money dollar to dollar and will defer your money whether it's IRA money or not.  Which means, you only pay tax on what money you take out.  Secondly, annuities will pay income for a lifetime and come with no sales charges, management fees or risk.