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I'm 50,on disability,can wk only P/T. Have only $12,000 for retirement tied-up in 2 IRA's in reg. bank earning only 6%. Don't need to touch the $12,000 for 10-15 yrs. Should I risk moving these IRA's, and into what kind of fund, so in 15 yrs. it can grow at a rate better than 6%? Have no investment experience. Have tried to discuss with Paine Webber & others. They advise MFS Emerging Growth MutualFund B or Seligman Growth Mut.Fnd B. I read the Mot.Fool opinion on mutual funds and am now not so keen on them. M.Fool recommends an Index Fund. Do those have risk? Is there an Index Fund that is FDIC-insured? Am going crazy trying to decide. Friend advised "but not your retirement money-you only have $12,000-keep it FDIC-insured. You don't take risks with retirement money". Should I just leave it in the 2 Tradit.IRA's in the bank @6%? Should I leave some of it in the IRA CD and move some into a Growth Index Fund? Which one? Vanguard? Should I give the money to a broker and let them put part into a Growth Fund, part in an Index and part in a Utilities Fund? Should I buy a Treasury Bill for $10,000? Should I consult a Cert.Finan.Planner rather than consulting brokers at Schwab, Amer.Express, Paine W., Oppenheimer? Is it true you shouldn't risk your retirement money? I feel so stupid to just leave in a bank for the next 15 yrs. earning 6% but at least it's "FDIC-insured". Should I move the IRA CD's into a Bond Index Fund? I have no experience with stocks or investing. Am on my own with no experience.
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