My mother, now 86, has decided that she can no longer manage living in her large home and wants to move into a retirment community which will charge her about $1600 per month. The home is paid for and worth approximately $300,000. Her only income is social security and a $10,000 annual rent payment from some family owned property. It seems that the best course for her would be to sell the house (taking advantage of the one-time capital gains relief) and invest the proceeds in some sort of income producing investment. Not being real savvy on this sort of thing, I'm looking for suggestions for secure investments which will yield at least 8-10% per year. Please don't suggest a reverse mortgage.
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