Originally Posted by pb4uski
The less conservative alternative would be Vanguard Wellesley.
I recently helped a friend get out of some fixed annuities. She is now in Wellesley and have set up an automatic transfer from Wellesley to her checking account and that cash flow helps with her monthly expenses.
Show your folks the growth of $10,000 for Wellesley and Vanguard Prime MM fund (that would be broadly comparable to investing in CDs).
I think you will have great success if you can get your parents to follow this. Much better return than CD's, and the periodic income sounds like it will help them out. Only slightly more risk, but a lot more upside. CD's do not even keep up with inflation!
Hopefully your parents can be open minded, but you are commended for being there and trying to help them out.