No pensions but above-average SS benefits, about $3k/month put together. They'd like another $2k/month in income.Two big things to settle first.One, how much money do they have to invest will determine how much they have to generate to meet their requirements. If they have only $500k (the low end of your estimates) they need to generate 5% or more to get that $2k/month. If they have $800k (the high end), it is 3%. Different ball games, different risks.Two (and the more important), they'd LIKE another $2k/month but what is really NEEDED? If SS is covering rent, utilities, food, etc., and that $2k is for trips, ballgames, spoiling grandkids, etc., it is totally different than if that $2k is keeping the power turned on. Make out a NEED budget and a WANTS budget. Make sure the NEEDS are covered and then some and the extra can then pay for the WANTS as the money becomes available.After those things are settled, then worry about where to invest.JLC
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