What to do with savings at 80 years old
My son-in-law’s parents (both 80. Yrs. Old) are moving from Las Vegas to New Jersey to live by their daughter. They sold their home and will have approx. $300,000 taking to New Jersey. They have no other savings funds. They never invested in IRA, CD, or any other retirement vehicle. They get social security and he gets a small pension. They will be paying a small rent in New Jersey. So, the $300k is all they have. What should they do with it when they get to NJ?
Terry Says
They should buy the safest investment — U.S. Treasury bills.
I recommend putting half into 26 week(6-month) T-bills, and staggering the purchases every two weeks, and automatically renewing the T-bills as they mature.
And perhaps put the other half into a 2 year Treasury note.
Here’s an explanation of how to do all that!
https://www.terrysavage.com/t-bills-beat-cds-2/
