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Money and Finances
Reply to "Parking $300k for 80yo mother in assisted living"
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[quote=Anonymous]She is old and deteriorating so you should manage her finances. Sign the power of attorney and take control of everything. Medical expenses will go up so you need liquid assets. Put the money in high yields savings where you can access it as needed. Put some in short term 6 month/1 year CD because you will need it soon. But CD rates are similar to savings rates. Life expectancy at this advanced age after diagnosed with Alzheimer/dementia is usually 3-5 years. Start thinking about end of life comfort and funeral plans. [/quote]
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