My father recently died, leaving my mother fairly wealthy with phone stocks (the old AT&T breakup group). We need to decrease her concentration in the group, diversify, but also secure monthly income to supplement here decreased pension and Social Security income. I'm obviously looking for the best yields available, but with a good level of safety. Can I improve upon the 6.66% Fidelity is currently paying within their Money Market? Are there three or four other places to invest for current income to add safety through diversity on the income side? Prefered shares, High Quality Corporate Bonds, Bond funds? Any suggestions?
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