Hi all!
My parents are retiring, and have asked me to help them figure out how they make the best use of their funds to live off of through retirement (a bit late, I know...). Summary of the situation is as follows:
- Ages: 67 & 63
- Savings: ~$800K USD (Mostly from sale of their company / inheritances)
- Investment: Low Interest Savings
- Liabilities: None
They're risk averse and have been burned before, so they just have this sitting in a savings account for now. They've calculated they need about 4% % return annually "in dividends" to cover their costs at the current standard of living (they live abroad in a low cost-of-living country). Not looking to make big gains, but enough to just sustain them. I'm recommending they speak to an actual professional since neither of us are experts in this, but this community has been so helpful before I wanted to see anyone here could provide any pointers.
- Does anyone have any recommendations for potential investments or solutions?
- Are there even any "stable" stocks paying 4% - 5% dividends where they could park these funds?
- Who would be the best person or profession to help with this that has relatively low fees?
Thanks so much!
Submitted October 11, 2021 at 09:53AM by Jasperoo20 https://ift.tt/3lCbXx7
