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Old 03-03-2012, 11:35 PM   #21
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I cannot remember if it could be set up so that the beneficiary could not sell the payments ahead for a lump sum. If you can, this is something you want to do-lock down the thing so he doesn't decide to cash out and take a great honeymoon to the Bahamas.
I hope so. I totally understand modhatter's fear that someone will target his son. Perhaps modhatter may be able to set him up in a caregiving home while he can that may provide some protection from predators. My MIL is in such a home. 60 years is a long time, though.

I would suggest doing some intensive research on such caregiver arrangements ASAP. That is how we found the group home for my MIL. Find support groups, charities and government agencies and talk to people. Certainly there must be people who have the same problem? I wonder if the Salvation Army would take basic oversight? If the instrument had a pay-on-death to the overseer, it might persuade such an organization to do the job without immediate payments, patiently waiting for his eventual death. Just brainstorming here.

You have my best wishes, mod.

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Old 03-04-2012, 12:48 AM   #22
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I would put 50% of the available capital in an SPIA, and the other 50% in CDs and munis.
Originally Posted by brewer12345 View Post
modhatter, given the situation as you describe it, I would seriously consider a SPIA (or series of SPIAs) for your son. That way there is no investing to be done, the checks just keep arriving every month.

Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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Old 03-06-2012, 02:41 PM   #23
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Originally Posted by modhatter View Post
What do you do for the 40% income portion.
Dividend paying utility companies?

Or dividend paying any company for that matter. I'd go with non-cyclical companies, like food, consumer staples, etc. Think "P&G-type" companies. Just remember...companies DO go bankrupt...especially over a 60-year period.

"Live every day as if it were your last, and one day you'll be right" - unknown
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