I have a question and I was wondering if you could offer some advice. My mom is going to need a home health care aide. She has some savings, and paying for the health care aide will come from those savings, until they are depleted.
Right now, that money is in a managed money market account at a local bank currently yielding .85 percent interest. It stayed there throughout the recent financial crisis, because low risk and liquidity were important. The rate of interest on the account, as you may be aware, has been low.
I am trying help make my mom’s money last as long as possible, as it is used to pay for home health care. So I am looking for a low risk investment with the highest possible return rate.
My mom is 82 years old. About a month and a half ago, she fell and broke her shoulder. She was in a rehab and now is at a point where she needs home care assistance.
My thoughts were possibly something like Vanguard’s Target Retirement Income Fund (VTINX) or Short Term Bond Index Fund Admiral Shares (VBIRX). Is one of these funds a good idea, knowing the risk profile and the investment timeline. Can you make any other recommendations? Thank you for your advice.
Right now, that money is in a managed money market account at a local bank currently yielding .85 percent interest. It stayed there throughout the recent financial crisis, because low risk and liquidity were important. The rate of interest on the account, as you may be aware, has been low.
I am trying help make my mom’s money last as long as possible, as it is used to pay for home health care. So I am looking for a low risk investment with the highest possible return rate.
My mom is 82 years old. About a month and a half ago, she fell and broke her shoulder. She was in a rehab and now is at a point where she needs home care assistance.
My thoughts were possibly something like Vanguard’s Target Retirement Income Fund (VTINX) or Short Term Bond Index Fund Admiral Shares (VBIRX). Is one of these funds a good idea, knowing the risk profile and the investment timeline. Can you make any other recommendations? Thank you for your advice.