Extra money to invest


Q. I am a former government employee who is already retired.  I still have an average of $1,000 a month that I am saving from my pension, and I am making minimal interest in the bank with $30,000 in savings.  What is a good place to invest this extra money?  I do not anticipate needing this money right now, but I would like it available when I do  need it.

A. You should keep it in cash or the equivalent — something that is federally insured is best. Bank savings or a certificate of deposit.


About Author

Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

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