My mother recently sold her only asset: her house, and will net about $600k from the sale. She is in good health and is very clueless about money. She has leased an apartment for $2,000 a month, and estimates her monthly expenses at $1,200. I believe she will have a hard time living on that. She also gets a government pension of about $1,600 a month. Canada so few health expenses. She is stuck with the apartment for the year ahead. Its good because close to family and a car is not required.
My questions are:
Where should she park her money to get the most interest but in a risk free way.
Based on that, how long do you think she can remain afloat based on those numbers?
Any other considerations or advice? She is dependent on me to figure this out for her and has no idea how to budget. I'm very good at spreadsheets, but not great at compounding interest.
Submitted November 09, 2021 at 10:09PM by shanecdotes https://ift.tt/3wuthHY
