When the economy goes south and the markets get wonky, many people, especially those who are close to retirement, clamor for "safe" investment assets. But what qualifies as a safe investment and are there really any such things out there for people to invest in?
Gone are the days when you could plunk your entire savings into a timed certificate of deposit or a savings account and actually receive interest on your money. Now, no matter where you put your assets, there is going to be some risk attached. The question is which options are the least volatile but still allow you to make money on your money?
The first thing individuals must do is acknowledge that risk can't be avoided, says Tom McGuigan, a certified financial planner with Burns Advisory Group in Old Lyme, Conn. "Any time you say you want to get rid of this risk or that risk you are deciding to accept a different one."
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