Hi Brewmaster 15, I am a 70 year old Mom & Grandma with a little less than your mom appears to have. In my opinion: 1. Your goals don't matter,only mom's goals matter here, 2. If you care, then take mom to meet 3 t 5 full service brokers. Tell her to listen for the one who suggests, long term care insurance for her (you should get yours at age 40, too) second, he should suggest a Variable Annuity with automatic payout for auntie, Maybe 90+ is too old so Mom should get one that grows tax deferred except for what she takes out. The VA should have a history of good balanced funds that have paid 10-12% This year about 20%. Mom needs to keep control of the VA and make you and your siblings, etc. the beneficiaries. Forget deferring SS, it will change before she is elegible. Did you know that even when you are collecting on SS you may still work and increase your checks. SS has an 800 pnone number listed in the directory and they are wonderful answering your questions from 7am to 7pm. Mom and you should get a printout of your witholding and potential benefits NOW.I think the # is 1-800-772-1213. But you better check that with the directory.Medicare and Medical Supplement insurances are cost constraining govt programs kicking in at age 65 or when you take your SS. Medicaid is a Lyndon Johnson era welfare program that says to middle class folks, give your money to your kids and in 3 years go on welfare. Auntie and Mom and you could easily live to be 100+ Happy New Year.
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