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If they were to set aside $12K for next years income in a money market fund and then put $12K in CDs maturing in 1 yr, 2 yrs, 3 yrs, and 4 yrs, that would leave them $90K for longer term. The $90K could be invested in stocks or indexed funds which should help extend their funds. Then each year $12K could be moved to another 4 yr CD.
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