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Author: wig Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75890  
Subject: 10 years till retirement Date: 2/22/1998 3:56 PM
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Hi! My mom is 60 years old, working full time. She just received money from her deceased husband's retirement plan, and after paying off debt, and contributing $4000 to her IRA, she will have $10,000 left. She currently only has $6700 in her IRA - and no other money. (She ran through $30,000 last year studying art). She will continue to work full time, she thinks, for the next 5 to 10 years. She can live on her salary no problem, and once out of debt, will have some left over to invest every month from salary. In addition, she will be receiving $744 per month for the rest of her life from her late husband's retirement plan. Oh yeah - she can wait until she's 70 to collect SS, then will get a larger check each month.

My thoughts on investing for her retirement: Have $7500 in liquid account (money market at 4.8%) so she won't be tempted to grab the credit card. $2500 to open mutual fund - Vanguard Index 500???, then invest $744 per month from late husband's retirement plan in this mutual fund? Is this safe enough - too safe? HELP. Thanks.

Laura
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