My foreign national grandparents have never worked in the US, so they do not have an IRA or 401k account, and their 200k USD cash in the US are currently sitting in a savings account. They plan on using 80k cash for a 20-30% downpayment on a condo within the next few months, and are thinking of investing the rest in the stock market.
We are thinking of buying Vanguard Target Funds in a brokerage account (probably Schwab) that would still perform better than cash sitting in a savings account.
Edit: Aside from what investing approach they should take, how would non-US citizens set up a brokerage investment account in the US using their passports?
Anyone in a similar situation have any advice to share?
Thanks
Submitted September 18, 2020 at 06:39PM by bycfly https://ift.tt/35MB0WA
