Hello. My mom just recently came into a 300k inheritance and I need some help giving her suggestions on how she should invest it. She is 68 years old with two pensions and no debt. Her monthly pensions cover her lifestyle expenses at this time. She does not need access to the money anytime soon. What do you guys recommend? Dividend stocks? Index funds? REITs? Thanks a lot!
68 years old. Doesn't need money. Just came into some money. I think a good investment for her would be to hire young firefighters to give her deep tissue massages. Another good investment would be doing anything she dreams of doing, ie: travel, activities, hobbies 68 can be young or old, depending on the person. Even if she is a young 68, which I hope she is, she isn't going to want to do a lot by the time she is 75. I suggest she enjoy herself now and try to experience as much joy as possible.
If she is living comfortably at the moment with no need for the extra money, the best thing to do is plan ahead for when this money will be passed down to her children and grandchildren. A balanced fund would be fine, but she needs to talk to her lawyer and tax specialist about the best way to be able to pass on the money with the lowest possible tax burden.
What do you mean? Pretty much all of us have lived a life of denial. We put off trips. We wait as long as possible before replacing the tires on our cars. We put off the home renovation until next year. This is part of forcefully financing our savings and retirement. This lady has achieved her retirement goal. If she is one of the 99%, she has denied herself much during her 68 years. I've lived as austere as pretty much anyone, short of a homeless person and maybe not even them. I did what was required to achieve wealth. Wealth is not the end game. A good life is the end game. I abhor wasting money but I sincerely hope this lady finds a way to enjoy, at least, a little bit of this inheritance. There has to be more to life than saving money and doing without. As long as everyone is well taken care of, maybe she could take the family on a cruise? Maybe she could cruise over to the fire hall?