Hi All,
First time posting, and I just want to say thanks in advance for any comments or suggestions.
My dad comes from a developing country and has this fear of losing his money in the stock market. He's been able to save around 200K, which I know isn't a lot but coming from where he comes I would say it could have been worse. I was finally able to convince him to put his money in a HYSA back when rates were 2-3%, but since those rates have come down it's not making much. Since he was making a little on interest he trusts me more with his life's savings. I basically wanted to ask what would be the best plan to invest that money?
Since he is so close to retiring I was thinking of throwing the money into some type of 2025 target date fund, but not sure if the returns would be much?
Overall I don't think him and my mother are too bad, given that their yearly spend is so low (20K a year). They have a paid off house and rent the back house for $1,500/month, mother is already taking SS at around $1,000/month, and I checked the SS website and my dad's estimated payments will be around ~$1,000.
Any suggestions would be appreciated.
Thanks!
Submitted July 19, 2021 at 01:19AM by bakari31 https://ift.tt/3Blrlno
