The best investment for a 60-year-old depends on your goals, risk tolerance and financial situation. Generally, investing in a combination of stocks, bonds, mutual funds, REITs (real estate income trusts) and other alternative investments can help diversify and stabilize your overall retirement portfolio. Consider whether or not you have access to catch-up contributions and Social Security benefits that you can use to maximize your retirement savings. Consulting with a financial advisor can help you make the right choices.