Bonds matured and I will have $62,000
I heard you on WGN today answering question about a $30,000 (I think) windfall and you advised the person put half in 26 week T-bills and half in an equiity income fund. I am 85 and have a very adequte income from a variety of sources. I have taken care of the taxes on the interest included in the $62,000. Do you advise I do the same?
Nope. Not at this age. At this point you probably want to be all in 6-month Treasury bills, with staggered maturities– which means buy some now, and more in 2 weeks. And leave some in a MM fund at your bank for emergencies.
Read this for info on how to buy Treasury bills: https://www.terrysavage.com/t-bills-beat-cds/
And ifyou haven’t updated your will and healthcare power of attorney recently, please use some of that windfall to get a good estate plan going. Go to www.Naela.org to find an attorney who practices elder law.