Soo my neighbor has been coming to me for advice after realizing I know something about investing.
Says he talked to his bank and they offered to take his cash and put it all into bonds since he is conservative and does not want to take risk.
Thankfully he has a pension when he reaches 58. I tried explaining that with at least 20years to go before retirement there is room for risk. I guess the banks know better than I.
I've been trying to preach Vanguard roth contributions...small...baby..steps.
It just seems to me that the first thing you would want to sell someone who needs growth for retirement would not be bonds...unless you're an insurance company...surely than it would be an annuity
Says he talked to his bank and they offered to take his cash and put it all into bonds since he is conservative and does not want to take risk.
Thankfully he has a pension when he reaches 58. I tried explaining that with at least 20years to go before retirement there is room for risk. I guess the banks know better than I.
I've been trying to preach Vanguard roth contributions...small...baby..steps.
It just seems to me that the first thing you would want to sell someone who needs growth for retirement would not be bonds...unless you're an insurance company...surely than it would be an annuity