How to Invest Properly for ages 60 and up?

From : Mr. Ronnie Junio

Question:

I am turning sixty this year and i would like to invest part of my savings in preparation for my retirement five years from now. It's not really that much but maybe i have to start somehow?

What is the minimum amount i could invest for a starter like me?

King Says:

In regards to your question, generally there is a basic process we need to follow. Investment involves risk . It is important that you will be able to satisfy all your basic necessities before entering any venture.

There is no minimum required amount in investing. It is more of percentage allocation to an objective rather than the exact amount.

It is advisable to start investing early however in your case, it is important you will be able to satisfy all your basic day to day and health before entering discretionary expenses ( Type of expenses that you have control and expenses that can be considered optional).

After satisfying your foundation fund, it is best to contribute first on investments that contributes cashflow such as fixed income investments (Bonds and TD). These type of materials offers quarterly contribution to your cash flow.

Make sure you do not over invest in these type of materials. These type of materials are just to balance your risk. Time is the enemy in your case, so your investments should be lean in preserving your capital while aiming small for growth.