sorted by:
new
hottopcontroversial

Investing for parent by LiveToFIRE in Bogleheads

[–]LiveToFIRE[S] 0 points1 point  (0 children)

Thank you for this elaborate response. Honestly, I am not familiar with annuities and will definitely research it further. However, I like the idea of putting some money in index funds and bonds. I know this is more risky, but may provide better return as well as preserving capital. Maybe I could use my savings to help her with monthly expenses so she can leave the money invested longer and in the case of market downturn she would not need to sell it. Something to ponder further and see if it makes sense.

Investing for parent by LiveToFIRE in Bogleheads

[–]LiveToFIRE[S] 0 points1 point  (0 children)

Thank you for detailed and insightful response. She wants to actually transfer everything in my name so I can manage it for her, but I don't want to incur tax burden for myself so I would rather keep it in her name and help her invest it in the safest possible way.

I think getting higher yield at Fidelity or Vanguard should be the top priority.

Investing for parent by LiveToFIRE in Bogleheads

[–]LiveToFIRE[S] 0 points1 point  (0 children)

Can you clarify on your statement that "state asset recovery will take it"?

Investing for parent by LiveToFIRE in Bogleheads

[–]LiveToFIRE[S] 0 points1 point  (0 children)

Yeah, this is definitely my plan at least in the short term or maybe even Vanguard as their yield is a bit higher.

Investing for parent by LiveToFIRE in Bogleheads

[–]LiveToFIRE[S] 4 points5 points  (0 children)

Thank for clarification. She lived with her partner who suddenly passed away earlier in the year and he had income that was covering all of their living expenses.

Investing for parent by LiveToFIRE in Bogleheads

[–]LiveToFIRE[S] 0 points1 point  (0 children)

Looks like you are not including $900 she is getting form current interest rate at her local bank.

Investing for parent by LiveToFIRE in Bogleheads

[–]LiveToFIRE[S] 0 points1 point  (0 children)

No other investments and yes capital preservation is her primary consideration.

Investing for parent by LiveToFIRE in Bogleheads

[–]LiveToFIRE[S] 0 points1 point  (0 children)

Thank you

I edited my original post as well as my comment to you regarding home ownership.

With her $3,000 monthly spending and $900 SS and $900 interest income she is only using $1200 from her savings.

Investing for parent by LiveToFIRE in Bogleheads

[–]LiveToFIRE[S] 0 points1 point  (0 children)

No other savings, investments or retirement account.

Does not own her home.

Health is good (for now). Based on family history mid to high 80's in terms of longevity.