That’s the general idea, but more specifically…
Massachusetts. Monthly expenses are about $4000.
Parent is in late 70s – spouse recently passed – unable to mange on their own
Approx. $2.5+ million in assets, more than half of which is in a rollover IRA with Fidelity in appropriately conservative vehicles.
As above, $1 million is sitting in cash doing nothing at bank (0.3%).
I am in the process of transferring the cash from bank to Fidelity Brokerage Money Market account in the name of a Trust. Cash is going into CORE which I believe is SPAXX at 3.97% 7-day yield.
Parent pays monthly rent and bills from adjacent Fidelity account with approx. $100K balance.
The goal for the cash is to keep a comfortable amount relatively liquid while “investing” the remainder in very conservative vehicles to preserve value and minimize tax.
What are our best options? Or, would you be doing anything differently?
