 Quote:
Originally Posted by JOHNNIE36
Do you really think she is interested in making the money grow? Why? At this point in her life, she should only be interested in protecting her nest egg and take the best interest rate she can get with maximum safety.
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Not necessarily. What if she intends to pass all of it to her heirs?
I would agree that if she plans to tap a significant portion of this money for her own use, it should be locked up in things like CD ladders and the like. But if this is something that will be passed to heirs, there's something to be said for going for growth with at least a fraction of it.
Though I'd also say that if I were in her situation (80 years old and with $1M lying around) and I didn't need the money, I'd be tempted to start gifting it to my heirs if it's not in a tax-deferred account. That's especially true if I didn't have long term care insurance.
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"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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