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sometime between 10 am and 2 pm yesterday, my parents' home was broken into. these guys were pros. the metal window bars in the back of the house was pulled out of the wall. the safe in the house was broken into as well. there's been 3 breakins in 6 years.
so the plan had been to move (waiting to close on a condo) and live off the rental income of the current home. however, after yesterday, my parents really don't want to deal with it anymore.
currently, the house is worth about 700k w/ no mortgage and earning about 25k post expenses. (it's been their PR for the last 15 years and they qualify for the 500k exclusion) what we'd like to do is sell the house and use it to fund the rest of their lives. what are some ways we can invest the money to give a "safe" return without having to tap into the principal? the target income would need to be at least 25k a year.
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