No. of Recommendations: 0

So my mother-in-law (age 77) just came into some ca$h after her cousin died. She would like to invest some ($120,000) to suppliment her monthly income. What would be the best vehicle to do this?

Not nearly enough information here to give a good answer. What level of supplemental income is needed/desired? What is your mother-in-law's experience level vis-a-vis stocks and bonds? What is her tolerance for risk? Does she have an existing relationship with a financial advisor? What role will you play in all of this? What is her taxable income situation now (i.e. will added income change her tax brackets?) Is the added income necessary for expenses or will it just be accumulated? What is her health status? How will whatever securities are eventually gotten be titled (probate and estate considerations here) etc., etc.

Many good financial advisors will give free consultations on the chance of getting her account.

The above questions don't have to be answered in a public forum, but they should be addressed as a matter of course with any good financial advisor as part of the "know your client" process.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.