I’m a 66-year-old retired homeowner in Fort Worth, sitting on $143,000 in cash. What should I do with my money?

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Owning your home can make you feel more secure as a retiree. So can having a nest egg to draw from. If you have $143,000 in cash, you should be doing something with it, as having that much money sitting in the bank isn’t a good idea. You risk missing opportunities and the value of your money eroding due to inflation.

But what should you do with that money? Since you’re already retired, you have to be a little more cautious about your investment options than your younger counterparts — at the same time, $143,000 isn’t enough money to live off forever, but you can’t afford to be too conservative either. Fortunately, if you already own a home, you at least know you’ve got an asset to fall back on if needed.

Here are some things to consider before you invest that cash.

Investing involves uncertainty, which is the last thing many of us want when we’re retired.

With President Donald Trump’s administration levying widespread tariffs against nations like China and Russia, and even allies such as Canada and the EU, global relations — and the stock market — have been volatile.

That volatility can make the stock market riskier than usual, because it’s less predictable.

And as a retiree, you don’t want to be in a situation where you need to sell off stocks for income during a market downturn.

While these risks are very real, the risk of being too conservative also can’t be discounted. If you’re just spending your money without earning returns, it’s more likely your funds will run out while you still need them.

Your best bet might be to balance “riskier” investments with higher potential returns and safer investments that will earn you limited gains. A common rule of thumb is subtracting your age from 110 and putting that amount in equities. Using this rule, a 66-year-old would put 44% of their money into equities and 56% into fixed-income investments, such as bonds.

This approach can limit potential losses in a market downturn, especially if you keep some funds in cash. This way, you won’t be forced to sell equities to provide income during a market crash. If you’re retired and need to draw from this money, limiting losses and avoiding too much exposure to market fluctuation is crucial.

But ultimately, it’s best to get professional, custom advice rather than relying on a rule of thumb.

That’s why it could pay to speak to a qualified financial advisor.

Research from Vanguard shows that working with a financial advisor can add about 3% to net returns over time. That difference can become substantial. For example, if you started with a $50,000 portfolio, professional guidance could mean more than $1.3 million in additional growth over 30 years, depending on market conditions and your investment strategy.

Finding the right advisor is simple with Advisor.com. Their platform connects you with licensed financial professionals in your area who can provide personalized guidance.

A professional advisor can also help you determine how many years you have left to invest before retirement and assess your comfort level with market fluctuations — two key factors in building the right asset mix for your portfolio.

Through Advisor.com, you can schedule a free, no-obligation consultation to discuss your retirement goals and long-term financial plan.

Read More: Approaching retirement with no savings? Don’t panic, you’re not alone. Here are 6 easy ways you can catch up (and fast)

Beyond figuring out your ideal asset allocation, you should also know what to invest the money in. Keeping in mind that everyone’s situation is unique, an exchange-traded fund (ETF) that tracks the S&P 500 is a common choice for American-based equity holdings.

The S&P 500, made up of 500 of the largest companies in the U.S., had an annualized return of 12.5% for the past five years (1). And since S&P 500 ETFs tend to be passively managed, you’ll be charged minimal fees for instant diversification.

One of the easiest ways to invest is to open a self-directed trade account with SoFi. This DIY approach allows you to invest with no commission fees, plus, for a limited time, you can get up to $1,000 in stock when you fund a new account.

SoFi is designed to help you learn investing as you go, with real-time investing news, curated content and the data you need to make smart decisions about the stocks that matter most to you.

While the S&P 500 offers a degree of diversification, it’s not perfect. That’s because not every company in the index is weighted equally. Because of their size, just five companies — Nvidia, Microsoft, Apple, Alphabet and Amazon — account for 30% of the whole S&P 500 according to CNBC (2).

So your portfolio would be very exposed to tech and AI. If you’re looking to invest in companies outside of the S&P 500 or in different industries, it can be tough to know where to start.

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*Returns as of 1/22/2026. Past performance is no guarantee of future results. Individual investment results may vary. All investing involves risk of loss.

From your remaining funds, you’ll likely want to set aside a few months of living expenses in an accessible high-yield savings account, alongside other low-risk options such as,

Bonds are a debt instrument — meaning, you’re essentially loaning money to a corporation (corporate bonds) or the government (Treasury bonds) in exchange for regular interest payments until the bond matures.

CDs are investment vehicles often purchased from banks. They typically provide a higher return than a savings account, as the investor agrees to “lock in” their money for a set period (usually three months to five years). The issuer guarantees the investor both the interest rate and principal balance.

Bonds can be advantageous for some retirees, as interest is usually paid quarterly, so you have a regular income stream. They can also often have higher interest rates than CDs. Bonds aren’t FDIC-insured like CDs, but if you buy Treasury bonds, you’re betting on the full faith and credit of the federal government, so you aren’t taking a significant risk.

Ultimately, investing your money is your best option to stretch your nest egg — but only once you’ve considered your risk tolerance and set aside ample cash in a readily accessible account.

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S&P Global (1); CNBC (2)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.