I never thought the day would come, but my 76 yr. old mother is finally asking for investing help. She's in frail health, has always lived very cheaply, has few assets. Owns her 100K condo outright, otherwise mostly lives off interest from a few CDs (a 100K one due to mature that's at 6.82%, couple small ones at 4.78%).
She's one of those "spend only the interest, never touch principal" folks like so many of her generation. I've been slowly introducing the basics (i.e. inflation, spending principal as she ages) but am meeting a wall of resistance. I think she wants to leave something to us kids even if it means eating Ramen and beans for the rest of her life.
Have been thinking about steering her towards parking it all in something like Vanguard Conservative Growth fund. Otherwise, a CD ladder is about the best idea I've been able to come up with. Any thoughts?
She's one of those "spend only the interest, never touch principal" folks like so many of her generation. I've been slowly introducing the basics (i.e. inflation, spending principal as she ages) but am meeting a wall of resistance. I think she wants to leave something to us kids even if it means eating Ramen and beans for the rest of her life.
Have been thinking about steering her towards parking it all in something like Vanguard Conservative Growth fund. Otherwise, a CD ladder is about the best idea I've been able to come up with. Any thoughts?