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Reply to "Where would you park money from sale of parents' home to pay nursing home"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I think it depends on what you plan to do with any leftover. If the pure use of the money is to pay for care and make it last as long as possible and you are not concerned with what is left then I would inquire with the home about paying six month or a year or two up front and asking for a discount. I think that would produce your highest yield on the money with safest return. I have not looked at the numbers but it might be worth looking at an immediate 5 year annuity. That might produce the highest return even though I generally hate annuities. [/quote] Not to be gruesome but there could be lots of reasons to it pay upfront (which I'm sure they wouldn't do anyway). [/quote] FDIc insurance limits wouldn't suffice if he is the named owner of the account alone.[/quote]
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