Bottom line:1. I need to invest her money to ensure minimal risk of principal.2. We are looking at like $65,000. This is it, all she has, only SS comes in monthly and a small pension.3. She needs a $700 payout monthly, for expenses she has.she needs 700/m from the 65K?that's something like 13% annual ... pretty much impossible long-term.(and depending how + she is from 65 .. her long-term could easily be 20 yrs.4. I am thinking an 80/20 split between Fixed income/equities.5. How do I minimize tax implications? I will set up a new account, I believe it is an IRA (non-roth) at present, so would I keep it as a traditional IRA even though she is not putting any new monies in?iirc, the "rule o thumb" for her would say 65/35 .. but you (someone) has to decide how to balance risk/reward.and ...but for making sure moving the IRA to another broker isn't taxable, taxes should be irrelevant (IMO)6. Any advice is appreciated. I am thinking Schwab to manage as that is who I use at present and they have a great selection/low fees.Schwab to *manage* or Schwab to hold the account?i like them (use them) for the latter,just don't know about the former
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Rat