Reply to brokerage accounts (for a real dummy)

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[quote=Anonymous]So I turn of "age of attainment" later in the month. I actually had totally forgotten about this because my mother died years ago--and believe me I'd rather have her any day of the week. But her trustee just emailed me and asked me if I had a brokerage account so she could deposit the funds on my birthday. I get interest from a different trust and it all goes into what used to be an ING Orange but is now a Capital One 360 and I asked the trustee why the funds shouldn't go there? She said it could, but it wouldn't be insured and that it was a "rather large sum," so she was recommending a brokerage.

I have no idea what I'd plan to do with the money, so I don't want it in stocks (plus I personally think the market is going to tank over the course of 2016). Bonds are returning a lousy rate, often less than the Capital One 360 saving rate. What is a brokerage account if not for stocks? And how do I decide what is a reasonable investment strategy anyway, since I'm not very clear what my plans are?[/quote]

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