I'd wait about a year and start scooping up cheap properties, especially multi-family units, and rent them out HUD for life. It's a no-brainer.
You think it's prudent to recommend some b-league bank stocks in a highly volatile environment and close to zero interest rates to a 65 year old as investment?
They aren't B league bank stocks they are higher quality then most if not all US banks. One of the best kept secrets I guess but millions of Canadians own them with no worries at all. High quality balance sheets with profits growing for decades. I think it's unfortunate that you would discourage people from putting their money into such high quality assets.
I discourage people in retirement age to get into new stock adventures. Especially not bank stocks that most likely will underperform in any recovery that will unfold at some point. How do banks exactly expect to outperform with near zero interest rates and consumers that are really not all that crazed up about consumption and taking on even more debt?
I'm not sure what retirement age is anymore but anyone with a 2-3 year window has no worries with these stocks they won't under perform at recent levels. I wasn't really think seniors in my answer though just working age people somewhat risk adverse from other types of equities.
Well, you may want to use history as your guide. Bank stocks underperformed in almost all past environments during which interest rates were extremely low.
In mid March at one time or another, ABBV was paying 8% dividend, BMY 4%, GILD 4%, Roche 4%... all had very reasonable PE and dividend coverage of ~50-60%. Seemed to me in a panic we shoot and then aim.