My mom, 73, has never been responsible with her money. She has always rented. She discovered she had $90k in her 401(k) and receives the maximum social security.
Where she lives, housing in West Virginia is very affordable.
How can she maximize her savings/finances at her age? Some of my colleagues believe she should buy a house, possibly with cash, to reduce her monthly expenses. While houses can be money pits, I lean towards this idea. But wanted to run it by this forum before talking to her about it.
Or any others. Please advise.
Submitted August 01, 2020 at 08:02PM by fowlfeet https://ift.tt/33iLYBJ
