My dad and mom are of their mid 70s and labored for themselves their entire life. They simply offered their dwelling and can web excessive six figures, which is actually their whole asset pool (no significant financial savings or retirement). My mother continues to be open to work however my dad has some well being points and can most likely must cease. Sadly we’re in a HCOL and that’s not capable of change because of my dad’s well being wants. They need to make investments the house sale proceeds in order that it might probably complement their Social Safety + any nominal earnings from half time work.
My view is that given their age and wishes, they need to prioritize extremely protected autos that simply present small, simple returns. Shares and even ETFs appear too unstable given their time horizon. Utilizing HYSA/CD curiosity to complement Social Safety and half time work looks as if the most secure guess for me, however am I lacking something? I really feel like this should come up usually, given the variety of boomers who’ve their dwelling as their whole nest egg. Thanks!