investment /retirement

my mother is 75 years old and disabled. She has not worked since 1982 because of a terrible injury at work.
She owns her home, has one credit card that she pays off any charges within a month or two.
She has about 8000.00 in a basic savings. 1800.00 in her household bill acount. Brings in about 850.00 a month on ss,and very small retirement account.
She has an fixed annuity since 2005. At 2.30% , with 160,291.00.
My question is,should she leave it there or is there something else she can use that would be better? ( company is New York life, fixed annuity ) the 2.30 is guaranteed threw 3/3/2016.

Terry Says:  Actually, that fixed annuity is a reasonable deal.  I just rolled one at MetLife that offered 3.25 percent, though.  And if you contact my annuity expert Jeffrey Oster (Jeffrey.Oster@raymondjames.com) he can tell you whether she could roll to another annuity from a top-rated company without penalty or costs.    And maybe it’s time for her to start making some withdrawals, if she needs the money?  Or are you trying to save it to pay for her care if she needs assistance?

Other than that, please make sure that your mother has an up-to-date will and healthcare power of attorney.  Even better she should create a revocable living trust to hold title to her home and other accounts.  That way, if she is incapacitated and cannot make decisions, you can do so as successor trustee — without going to court to get permission.  Consult an estate planning attorney who specializes in elder care issues.  In Chicago, I recommend Janna Dutton at 312-899-0950.  (I had her do my mother’s estate plan, so that’s how much trust I put in her advice.)