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|Subject: 77 years old- Just sold 1st. Home||Date: 1/15/2001 5:54 PM|
|Author: jfinegan||Number: 27205 of 75540|
My mom is 77 years old and has just sold the first home she ever owned. She will realize a net-after tax ammount of roughly $330,000.
Her monthly social security and pension payments will cover her new apartment rental plus utilities.- @$1800.
Question- In order to have a supplemental monthly income from her $330,000, what would be the best vehicle?
Fixed Annuities scare me due to high fees and CD rates have just gone down.
How can she maximize earnings on her principal and still receive a monthly payment of @ $2500.
PS- she will need to access the new cash immediately.
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