Responsible Ways To Use A Monetary Gift - Page 4
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Or open an annuity
Even if you have a Roth IRA or other retirement plans, many humans are outliving their retirement savings these days. It’s an odd problem to have: If you’re lucky enough to live a long time, you may not have enough money to fund your days. An annuity is like an insurance policy for your retirement days. When you purchase one, you enter into a contract, agreeing to make periodic payments. These will accrue interest until the agreed-upon date when the account will start to make payments to you. DeFreitas suggests this as one thing to do with an unexpected $5,000.
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