[Misty]

Asking advice for my mom, here is the situation:
She has a SEP IRA from Raymond James worth ~$28000 that they are no longer going to continue for her.

She needs to roll this money over into a different account.

She is highly risk adverse and she is only a couple of years away from retirement.

What would you suggest if it was your mother?

Please consider she needs something simple and safe.

I appreciate all your thoughts and advise on this matter.

[Sean]

Just roll it into a traditional Ira. She can invest how she sees fit from there.

[John]

Will she start drawing on it right away? Or she can live off other funds and use this later?

[Isabel]

that’s tough – it really depends on how soon she needs the money.

My dad was alot like your mom.

He just put it in a CD. Check bankrate.com. for interest on money markets and CDs.

I’m not sure that she could handle the ups and downs of a market. My dad couldn’t.

He put everything in CDs when he turned 70 and he lived another 22 years!

he would have kicked ass in the market – but he would have lost his mind.

[Frank]

Move it to Fidelity and take care of it for her. Raymond James was probably taking her to the cleaners anyway.

[Author]

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