Re: Trying to help my mid-60's parents with their retirement $$$, have questions
Sounds like they'd be comfortable with something between Money Market
- About 5% yield ignoring taxes. You can write a few checks a month from this account. ($250 min.)
the Penfed CD's others have mentioned.
Personally, I'd go with Vanguard Target Retirement Income Fund
But, that may have too many stocks (30%) and be too volatile for their tastes. The Target Retirement Income fund would be expected to hold up against inflation better than just CDs or Money Markets.
I'd encourage leaning more towards CDs and the Money Market if they're not used to stock market risk.
As far as the Roth, I think they can "only" put $5k (I think? Assuming they're over 55?) each into it, assuming they have enough earned income.
"There's those thinkin' more or less, less is more, but if less is more, how you keepin' score?
It means for every point you make, your level drops. Kinda like you're startin' from the top..." "Society" - Eddie Vedder