4 Investments Retirees Should Avoid Plus the Best Stocks to Own on Social Security

Investment Strategies for Retirees - The article emphasizes the need for retirees to shift their investment strategy from wealth accumulation to wealth preservation and income generation as they approach retirement [1] - It highlights specific investments that retirees should avoid, including complex financial products and high-risk assets [1] Investments to Avoid - Indexed Universal Life Policies are criticized for being complex, expensive, and ultimately not beneficial for most retirees, despite being heavily marketed by insurance brokers [2] - Leveraged funds are deemed risky as they amplify returns but can lead to significant losses during market downturns, making them unsuitable for retirees [3] - Individual stocks are discouraged for retirees due to their potential for total loss, with a recommendation to leave such investments to younger, more risk-tolerant investors [4] - Speculative stocks, such as meme stocks, are likened to gambling and are advised against for retirees [5] Real Estate Considerations - Directly-owned rental properties can be a profitable venture but require significant effort and management, which may not be suitable for retirees [6] - The challenges of property management, including tenant issues and maintenance costs, are highlighted as potential burdens for retirees [6]