No. of Recommendations: 5
If you are 58, presumably you are close to retirement, which means you should be defensive in your selections. If you go through a market meltdown (which has happened a couple times lately) you could be hurting, and seriously,

Amazon and Netflix are exactly the opposite of "defensive", and while both might be fine, both might be shot out of the water for all sorts of strange reasons. Amazon, for instance, could get whacked but good with the passage of a single law mandating the collection of local sales taxes, because instantly their price advantage disappears. Netflix could evaporate with the announcement of a similar service from Facebook, which has more users than Netflix could dream of.

I'm not saying either of these things will happen, only that at your age (and investment experience) you are perilously close to pulling the trigger without knowing which way the gun is pointed.

I played mutual funds in the 80's, and speculative hot issues in the 90's, and as I rounded the bend to retirement I have elected to invest in stalwarts, (mostly) large cap stocks which are unlikely to evaporate and which pay a good dividend.

Coca Cola pays almost 3%, which is roughly 3% more than your money market funds. Others with similar characteristics (but not similar at all) are stocks like Procter & Gamble, Kimberly Clarke, Con Edison, Johnson & Johnson, Bristol Myers, Chevron, Kraft, Eli Lilly, McDonald's, AT&T, and plenty of others.

With $170k you could buy 7 or 8 good issues at around $20-$25k each, enough to have money in several different sectors while not killing yourself with fees and commissions. Or you could put a bigger slug into an ETF, which is like a mutual fund except with lower fees and far lower tax implications (because they don't trade in and out as mutual fund managers seem to need to.) I also have PEY, another high-dividend payer comprised of dozens of different stocks, paying over 4% dividends at the moment:

I'm in the dividend game now, as you can see (well, if you looked up those stocks), earning around 3.5%-4% on dividends alone , plus hopefully some appreciation in the stock as well. (But maybe not, you never know.)

I would concur with others in the thread who have not-so-politely told you to ignore the Motley Fool recommendations. If you had a better background I might be more critical of that advice, but I suspect you don't, and putting your money into things you really don't understand is almost a guaranteed ride to Unhappy Land.
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