I am retired and other than social security have no other form of income. My objective is to preserve my income for my son who will need this income when I am no longer here. I placed $500,000 in the hands of a well known bond investor, when I was very ill, and did not think I was going to make it. That resulted in purchasing very risky investments (which I unfortunately left up to him) resulting in a total loss of $250,000, much of which is gone forever in 4 bankruptcies so far. I have another $200,000 I invested myself, in a combination of dividend producing stocks, a lot of utilities, mlps etc. I am almost whole at this point in that portfolio.
I have several CD's coming due, and as you know we are looking at not much more than a 2% return on those. I already have money in the higher paying CD's (Pen Fed etc.) I am in a quantry as to what to do at this juncture.
An annuity in not in my vocabulary.
I do need to produce income, so my choices are:
CD's
bonds
bond market
Wellington
Foreign dividend funds (don't know any in particular)
Though we could all get rich if we could predict the future, I am inclined to feel that we are going to continue in a deflationary environment, and stagflation at best, with inflation down the road when we come out of it, which I think will be years. Yet, playing it so safe as to earn 1 to 2% is difficult to swallow as well.
Wellington, which is a bond/stock fund with greater emphasis on bonds is at $26.68 today with a yield of about 3.75%. What is your feeling about this fund at this juncture? As I am not familiar with funds like this.... Do they make quarterly payments to you on their yield?
Any other ideas? I am not that sophisticated in this areana. I used to be involved in real estate, but those days are gone with no inclination to return due to health.
I am shy of investment advisors. I did better as a total novice then my "expert".
What say you, guys?
I have several CD's coming due, and as you know we are looking at not much more than a 2% return on those. I already have money in the higher paying CD's (Pen Fed etc.) I am in a quantry as to what to do at this juncture.
An annuity in not in my vocabulary.
I do need to produce income, so my choices are:
CD's
bonds
bond market
Wellington
Foreign dividend funds (don't know any in particular)
Though we could all get rich if we could predict the future, I am inclined to feel that we are going to continue in a deflationary environment, and stagflation at best, with inflation down the road when we come out of it, which I think will be years. Yet, playing it so safe as to earn 1 to 2% is difficult to swallow as well.
Wellington, which is a bond/stock fund with greater emphasis on bonds is at $26.68 today with a yield of about 3.75%. What is your feeling about this fund at this juncture? As I am not familiar with funds like this.... Do they make quarterly payments to you on their yield?
Any other ideas? I am not that sophisticated in this areana. I used to be involved in real estate, but those days are gone with no inclination to return due to health.
I am shy of investment advisors. I did better as a total novice then my "expert".
What say you, guys?