Hi all, I spent this weekend helping my parents with some stuff, and discovered that my dad has 5 401k's out there. (Including one that they didn't know about!) I will be helping him to roll all of them to Vanguard. Dad is 62, mom is 59. I think it's around $100k total. No other assets, and net worth is very negative. Their understanding of investments is zip and that's not going to change. Future plans are complicated, but assume that SSI and family support will be the main sources of retirement income.
I will be selecting investments for them. Ongoing monitoring or maintenance will not happen, so need to plan for that. Basically, set it and forget it. I'm thinking one of the all in one index funds that builds in an asset allocation would probably be best, but not sure which one. Risk tolerance is low to moderate.
I'd appreciate any suggestions from the group. Thanks!