Author Topic: Where to steer mom's money?  (Read 1493 times)

thedigitalone

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Where to steer mom's money?
« on: March 27, 2017, 05:31:50 PM »
My 80yr old widowed mom has $600k in cash from a recent property sale and is unhappy with the less than >1% ROI of it sitting in a savings account.

She has sufficient money coming in from Social Security and annuities to cover her day-to-day expenses, this money is her primary buffer to use if/when her health begins to decline.

She is currently healthy and getting around, I am nervous about how easy the access to such a large amount of cash she has, it would be a tempting target for a scammer.

Where do I steer her into putting this chunk of cash?  It would be nice to get a bit of a return on it (not really necessary though) and to have it readily accessible when needed.

TIA

MDM

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Re: Where to steer mom's money?
« Reply #1 on: March 27, 2017, 05:40:40 PM »
One of the two more conservative Vanguard LifeStrategy Funds would be reasonable.

thedigitalone

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Re: Where to steer mom's money?
« Reply #2 on: March 28, 2017, 09:55:50 AM »
Thanks, I'll take a look at those funds!

Mother Fussbudget

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Re: Where to steer mom's money?
« Reply #3 on: March 28, 2017, 02:05:20 PM »
And don't forget that in a Vanguard brokerage account, you can buy & sell Vanguard funds for zero commission.