Hi Jeanie. My name is ***** ***** I look forward to helping you.
Given your age and the fact that you are living off social security, the most important thing for you is protection of your principal rather than taking a lot of risk to increase your rate of return on the principal. So, you do want to weight your portfolio toward bonds and income producing stocks...i.e., those with solid history of dividends. Although you want to weight your portfolio in that direction, it would be good to have some exposure to the stock market. Because of the amount you have available and your inexperience in investing, you would not want to invest in individual stocks because you can't properly diversity. Rather, I would suggest you invest your $50,000 in no-load index mutual funds that track certain groups of stock. Vanguard, Fidelity, etc. have no load, very low management fee, indexed mutual funds. I would recommend about 50% in bond funds, 25% in an income-stock indexed fund, and 15% in a S&P 500 index fund; and 10% in an international fund. If you call either Vanguard or Fidelity, they can direct you into the applicable funds at no additional cost to you.
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