Investment strategy for retiree

We have 60,000 which we would like to invest. We are 73 which necessarily means a conservative approach. Please advise.

Terry Says:  Ah, that’s like asking me how long to cook your dinner!  I don’t know what you’re having to eat, when you’ll be hungry, etc etc!!   I can’t answer out of context.  Typically, I just ask how much you’re willing to lose!   If the answer is “nothing” then you must leave this money in the bank.  You’ll earn almost nothing but you won’t lose anything!

If you want to be a bit more aggressive, I’d suggest contacting Fidelity or Vanguard (800-FIDELITY or 800-VANGUARD) and asking them to do some “retirement income modeling” for you.  They will help you decide how to invest, and how much you can spend each month/year to make it likely that your money will last as long as you do!