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Started By
Message
How to invest?
Posted on 7/25/20 at 8:00 pm
Posted on 7/25/20 at 8:00 pm
MT: need some advice.
My mom is getting $250,000. All of her debts are paid. House, cars, credit cards, everything. She’s a 65 year old widow & is taking in around $10,000 per month. So, she doesn’t need the money to live. How would you invest it? She wants to use some of it for her grandkids education down the road but doesn’t want to lock it into a 529...just looking for some different ideas to suggest to her.
My mom is getting $250,000. All of her debts are paid. House, cars, credit cards, everything. She’s a 65 year old widow & is taking in around $10,000 per month. So, she doesn’t need the money to live. How would you invest it? She wants to use some of it for her grandkids education down the road but doesn’t want to lock it into a 529...just looking for some different ideas to suggest to her.
7
Posted on 7/25/20 at 8:02 pm to Chaplain
If she doesn't need it to live I'd just do low cost indexing.
Posted on 7/25/20 at 8:20 pm to Chaplain
VTSAX
Posted on 7/25/20 at 8:25 pm to Chaplain
Short the Spy every bloody Friday.
Posted on 7/25/20 at 9:15 pm to Chaplain
Silver.
Posted on 7/26/20 at 12:01 pm to jimbeam
quote:That is the answer for the portion invested in stocks. The question is does a 65 year old dump it all in at these levels?
VTSAX
Posted on 7/26/20 at 12:44 pm to geauxpurple
I don't see a problem with it. OP says her living expenses are already covered by other means. No need to be conservative with this new money imo.
Posted on 7/26/20 at 1:01 pm to Chaplain
I put my parents in SPYD, among other things. It is an ETF that has the top 80 dividend yielding stocks in the SP500. Yields about 5-6% right now and has a low expense ratio.
If you do buy into the market right, I would dollar cost average in.
If you do buy into the market right, I would dollar cost average in.
This post was edited on 7/26/20 at 1:02 pm
Posted on 7/27/20 at 1:34 am to Chaplain
VBIMX
Last Monday I converted my entire 401K into VBIMX. Its a bond fund.
5yr return 28%
YTD 9%.
If the market craters, I'll get back into VIGIX. VIGIX is very big tech heavy.
Last Monday I converted my entire 401K into VBIMX. Its a bond fund.
5yr return 28%
YTD 9%.
If the market craters, I'll get back into VIGIX. VIGIX is very big tech heavy.
Posted on 7/27/20 at 8:07 am to Chaplain
quote:
MT: need some advice.
My mom is getting $250,000. All of her debts are paid. House, cars, credit cards, everything. She’s a 65 year old widow & is taking in around $10,000 per month. So, she doesn’t need the money to live. How would you invest it? She wants to use some of it for her grandkids education down the road but doesn’t want to lock it into a 529...just looking for some different ideas to suggest to her.
First recommendation is for her to find a CERTIFIED FINANCIAL PLANNER(TM) and have a comprehensive financial plan done. Far too few facts listed here for an appropriate recommendation. It may cost $1,500 - $3,000 depending on who she works with, but they will sift through her every financial detail and make sure she structures her finances, including investments, appropriately. With $250k on the line, a one-time fee like that is not very expensive.
A competent advisor that is legally considered a fiduciary should also ask appropriate questions about the amount of risk she should be taking, but certainly not as in depth as a CFP(R) would.
Full disclosure, I am a CFP(R) and would never make a recommendation on that paragraph alone. Yes - it appears she can be more aggressive than most 65 year olds, but there are far too many other questions I would ask before actually making that recommendation.
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