She’s going to have about $120,000 cash after all costs and after paying off her debt.
Grandma is notoriously terrible with money.
She’s 80 years old now, in good health. She wants to rent a condo for the remainder of her life, which she has found and signed a lease.
She will have $2000 rent per month. Her pension and social security add up to $2100 per month, and she leases her vehicle for $350 a month.
How do I set it up so that she has the money from her house in a conservative portfolio while giving herself monthly payments? I’m not interested in inheritance, and would like to plan for her living another 25 years.
I would also like to keep some liquid in case of emergency. Her spending habits aren’t going to change too much at 81 years old.
Any advice is helpful.
Submitted September 18, 2021 at 10:08AM by ClimbAndMaintain0116 https://ift.tt/39x1wnH
