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Reply to "What should my mother do with 30K excess cash?"
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[quote=Anonymous]She's 78 years old. She has a very predictable income of 5K a month and expenses of 3K. She has about 1 year of living expenses in the bank. What should she do with an extra 30K? It's currently sitting in a money market fund making .15%. The credit union is suggesting she invest in a 5 year fixed annuity at 2.4%. Is this a good idea? She doesn't need it now but wants to invest conservatively so as not to lose the principal. Aren't interest rates going up? Should she invest half of it now and wait for rates to rise to invest the other half? She is very frugal and refuses to pay a financial planner. She's relying on me which is not good. Any advice is truly welcome. [/quote]
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