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Question

My wife @ I are 78yrs old ,she is a Quad and we need caregivers.I pay about $35,000 a year for her care.We have to take this out of our IRA.We have about $165,000 invested in the market through a top financial firm.I have a small pension plus SS which covers our living expenses.Q) Shouldwe put our money in a money market fund,or cd's to protect what we have? Thanks,Don

Submitted: 28 days and 5 hours ago.
Category: Finance
Value: $15
Status: CLOSED
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Country/State/Province of question: California

Accepted Answer

If you will continue to withdraw $35,000 annually from your IRA which is valued at $165,000 then you will want to be invested in a money market fund, CDs, and short term fixed-income securities in order to preserve your principal as the funds will be entirely dissipated in approximately 5 years. If you invest in stocks or longer term fixed-income securities then your account will be much more volatile and you could lose principal and exhaust the account in less than 5 years.

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Expert: Bill
Pos. Feedback: 100.0 %
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Answered: 10/27/2009

Financial Advisor

EA, QPA, CHFC, CEBS, CLU - 29 years experience providing financial advice

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