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How can I grow my retirement savings without loss?

I have $500,000 in a retirement account. My bank offers a program that guarantees no loss but caps the gain at 7.5 percent. The plan requires a seven-year commitment. Is this a good plan?

Banking, Financial Planning, Retirement, Retirement Savings
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5 days ago

This sounds like an annuity.  An annuity may be an acceptable option but you must be aware of high fees and penalties that can be associated with an annuity.  Especially the banker's commission for recommending it to you.

When seeking investment advice insist on the fiduciary standard of care.  Require that your advisor provide  you with a written statement of their fiduciary commitment to place your interests first.

Curtis Purington

Safe Harbor Wealth