Bunker, requesting some financial advice for my mother in law.
She is a divorced teacher in her late 50s. She received a decent sized inheritance (about 1.1 million) from her father. She came to me asking advice on what to do with it. She received a piece of this earlier and paid off her mortgage and car loans. I'm a CPA so I understand the tax aspects, but am not as knowledgeable with the finance side.
My question is more where the Bunker experts would send her (not which investments to make). She is very risk adverse, so she wanted to just dump it in a CD or money market account. I was thinking more along the lines of setting her up with a local financial adviser (she lives in Orlando). Or just going an easy route and having her buy a couple shares of Berkshire or open an Goldman's account (as you can see I'm not an expert in the financial side, so any help is appreciated). With the latter route, my thought would be to put half in those investments listed above and the other half in something safe (CD or some blue chip stocks).
My only concern with the local financial adviser route, is if I don't know them, I'm worried about them making bad investment decisions on her behalf.
She is a divorced teacher in her late 50s. She received a decent sized inheritance (about 1.1 million) from her father. She came to me asking advice on what to do with it. She received a piece of this earlier and paid off her mortgage and car loans. I'm a CPA so I understand the tax aspects, but am not as knowledgeable with the finance side.
My question is more where the Bunker experts would send her (not which investments to make). She is very risk adverse, so she wanted to just dump it in a CD or money market account. I was thinking more along the lines of setting her up with a local financial adviser (she lives in Orlando). Or just going an easy route and having her buy a couple shares of Berkshire or open an Goldman's account (as you can see I'm not an expert in the financial side, so any help is appreciated). With the latter route, my thought would be to put half in those investments listed above and the other half in something safe (CD or some blue chip stocks).
My only concern with the local financial adviser route, is if I don't know them, I'm worried about them making bad investment decisions on her behalf.
