The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  Please Help a Newcomer Manage Retirement Date:  5/3/2000  11:28 PM
Author:  DrCatwoman Number:  21765 of 78166

My 94 year old grandmother is retired and has asked me to look after her finances, as she no longer feels up to balancing her checkbook and paying her few bills. She has also just moved into an assisted living facility. She has a monthly income from her pension and social security, which will probably not quite meet all of her expenses - She will probably need about $6,000 per year above and beyond her pension. When she needs a higher level of care in the facility, the cost goes up. She has about $60,000, which she had in safe but not lucrative investments like CD's and bond funds that were not really even keeping up with inflation. She liked the bond funds because the dividend was tax free, but in my opinion, she needs more income even if it means paying more income tax. Although she is quite frail, she is not real