3 bad investment ideas to spend our Social Security check during retirement years

The golden years of retirement are a very special time for anyone in the United States. Reaching them with a nice Social Security cheque is critical to being able to have the best rest possible. However, not every citizen can have the biggest cheque of $4,558 per month.

Fortunately, all United States citizens can supplement their Social Security cheque with a variety of extra income. Among this income we find investments, which can be a great solution.

However, making investments can be dangerous if we do not know how to control the situation. Even so, there are investments that are worse than others. If we want to avoid losing our Social Security money in investments, we should consider the following 3.

3 investment ideas not to spend our Social Security money on

While it is true that these investment ideas are generally not good, everyone can do with their Social Security money as they see fit. In any case, there are times when seemingly bad investments turn out well. It all depends a lot on the context in which we find ourselves.

1. Collectibles. In recent years we have seen sales of antique toys or collectibles. This can be tempting, as there are some that can be sold for a lot of money. But it is not advisable to spend our Social Security cheque on buying these types of items. Most of these toys are not really valuable. Only a small group of them are worth a lot of money.
2. Startups. You have to watch out when investing in startups. There are companies that are worth spending our Social Security on, but usually this is not the case. As a general rule, there are a lot of startups and most of them are not successful.
3. Lottery. Buying a lottery once in a while will not ruin us. However, investing part of our monthly Social Security cheque in it will cause us to lose a lot of money along the way. We should not do this on a regular basis.

This is not to say that all other investments are a good idea. Remember to do all of these types of things with a lot of thought and safety. Hire a financial advisor if you feel it is necessary.