I’m currently trying to help guide my father-in-law with his investment strategy. Since we’re at very different stages in life, I realize his approach shouldn’t mirror mine. I’m 24 and focused on long-term growth, so my portfolio is heavily weighted in VOO, QQQ, VTSAX, and some individual blue-chip stocks. He, on the other hand, is 58 years old with around $35,000 to invest (he has other investments as well) and he is planning to retire within the next 5-7 years. He doesn’t want to leave the money sitting in a savings account, but I’m unsure of the best approach for someone his age—especially with today’s economic uncertainty. I’d love any advice on how he should consider investing this money, given his timeframe and risk tolerance.
Thank you in advance