Look, let's stick to the god**** grandma, alright??? The old coot's having a hard time deciding between a ****in savings acct and a CD!!! WTF is this moron even DOING on ET? It's the difference between packaged sliced ham, and a meat grinder! I trade currencies! And, this old folk's home wannabe is sweating opening a checking acct at BANK OF AMERICA. Would somebody please close "Handsome's" account! This is not the Fruitcake Factory!
In the spirit of addressing your seemingly legitimate concern (although I question why you would ask or even act on any information found on an internet message board, especially judging from the responses in this thread, not to flame anyone) I would tell her to consult a private wealth manager to construct a customized portfolio based on her needs for the next few decades. There is more to fixed income and low risk investments than CDs. A good wealth manager will be able to combine this with her existing investments to preserve her capital and generate some sort of income.
Since your aunt is 83, she may not want to put the money in anything long term. Therefore I'd just put 80% in short-term CDs, splitting it between 1, 3, 6, and 12 month CDs. The other 20%, I'd suggest just putting it in a money market account.
I cannot believe upon logging in seeing this vicious post you made to me as well as being disrespectful to my aunt. I cannot also believe they allow such hate and disrespect in a post here!!!! You should be taken behind an alley and beaten with both fists until you learn some manners! Don't ever insult a family member of mine again and if you cannot contribute to what I asked about, then Shut Your Vulgar Mouth!!
So, what are you saying? dd PS: Would it be your grandma doing the beating? *wriggles eyebrows* This might be fun... ;-) <img src=http://www.jahsonic.com/QuentinMassys.jpg> "Do sumfin' wuth muh munny, sonny...."
<IMG SRC=http://www.jahsonic.com/QuentinMassys.jpg> "Do sumfin' wuth muh munny, Handsome, buffurst git me the enumah bag...." "But, Auntie, there's no attachment on the end of the tube!" "I have it soakin' on the baffroom shelf, Sonny, in the same glass I got muh dentures in. Now go git it fer meh, I ate taffy three weeks ago. Thim nahss boys on Elite Bank Account say anythen, yet?" "It's Elite Trader, Auntie, and no... no replies... yet." "Wull, keep affer it, boy, and bring meh the Crisco, too!"
I am so sorry that some people like Drawdown are so immature and disrespectful. Allow me to apologize for them since they obviously don't have enough sense to apologize. Best wishes to your aunt. It's admirable of you to help her.