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>>She's looking to me for advice as to which would be wiser
and what to do with the monies from the sale of her home. She would like to make some supplimental income.<<

What I might do, were I her, is to sell the house and buy a duplex- live in one side and rent out the other, which would basically pay most if not all the mortgage. IF I happened to have some money left over I'd put it in couple of good dividend(2% or better) paying growth stocks. I hope this helps.
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