<prompt> Human: I just learned that my parents have their entire savings in credit union IRAs invested in low interest savings accounts earning 0.01. When I talked to my dad about this he was surprised to learn that some IRAs earn more than that. They are 70 and 67. What steps can they take? Roll over into an IRA with more options and buy conservative bond-heavy funds? Any other ideas? Important facts - they withdraw the minimum required every year and earn well more than they need to live from income edit: from work and social security. Neither would be particularly comfortable with anything too risky. I dont know and dont feel comfortable asking what the total figure is. EDIT: sorry this was unclear but they still work. Not sure whether or when they plan to stop and live off of savings.  <response>: An IRA is not an investment. An IRA is a type of account. Within an IRA account, you can have cash, savings accounts some are called money market accounts, CDs, stocks, bonds, etc. All of those things are different types of investments.At a minimum, their savings should be put somewhere it is at least gaining interest, some money market accounts have 1, CDs are a bit higher. Theres no risk if the CD or MMA are FDIC insured, but the FDIC only insures up to certain limits, so they may need to open multiple accounts to get the full FDIC coverage.That said, if they dont need the money theres no real problem with leaving it. Yes, its losing value over time. But its their money and they are doing fine. At some point, everybody has enough. When you gain control as they age, you can move it around then. 