About to Retire

[Guest charlesperry]

I am retiring next month and I would be getting a big amount, what would be the best option for investment, I was thinking of getting insurance but I dont know what would be the best policy for me. I live in Texas, Can anyone please guide me in getting insurance. Thanks in advance!!!!

[masteff]

This forum is generally used by benefits professionals to discuss the administration of benefits plans. We do not generally give advice such as you are requesting. Especially when we know absolutely nothing about your personal situation.

I strongly suggest you consult with a competent professional tax advisor and possibly a professional financial planner. A fee-based (not a commission-based) financial planner can help you determine an investment strategy that fits your personal circumstances and personality. If someone is trying to sell you insurance products, then you should have a tax or financial advisor help you review the insurance product in question to be sure it will actually achieve your goals. It is my personal opinion to never trust an insurance salesperson, especially one that's telling me I should give them lots of money on which they will get a big fat commission; too many put that commission before your best interest.

Good luck.

Disclaimer: The above is a statement of personal opinion only; you are directed to form your own opinions and make your own decisions. I accept no responsibility for decisions you make from advice you solicited from complete strangers.

If you still want complete strangers to tell you how to invest, then I suggest forums such as Motley Fool, a website which also contains many helpful articles about investing.

[david rigby]

Yikes! These message boards do not serve well as a place for investment advice, except to offer some general guidelines. The big red flag to me is your desire to both retire and buy insurance. "Retirement" usually means you are focused on a steady stream of income, while insurance usually means you are protecting someone else (or perhaps an estate). Insurance does not generate income. Apples and oranges.

Perhaps you need advice from someone who is selling only his/her advice, NOT selling insurance, annuities, stocks, bonds, etc.

[masteff]

and how is this question different than the last several times you posted a nearly identical question?

http://benefitslink.com/boards/index.php?showtopic=51250

http://benefitslink.com/boards/index.php?showtopic=51218

http://benefitslink.com/boards/index.php?showtopic=50454

[Bill Presson]

I am retiring next month

Does that mean you'll stop posting questions?

[Guest charlesperry]

I know my situation very well I just wanted to know whether there is any kind of retirement plan policy. If it is then please let me know.