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Originally Posted by Gigi3000
I have $250,000 to invest for income. I'm 63, keeping lots of cash on hand, own my home, not working and have no income currently. My expenses are minimal, around $1800 month. What would you invest in? can play with $75000 in high risk, the rest medium risk.
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You might consider opening an online, phone app accessible online account on Schwab. Account is free, trading is free. You can put low-risk money, prehaps $50,000 in an exhange-traded mutual fund with the ticker symbol TIP, currently yielding more than 3% and it will go up if inflation goes up. TIP invest in low-risk inflation-indexed bonds; they are US Treasury Securities. The Schwab app gives you access to help options if you are new to brokerage. If you have no investments, this is a sensible one for you. If inflation continues to rise, principal and income will go up. If not, it won't but you'll have more purchasing power. At our age, this is a win-win.
If you want something with a higher risk level, you might have someone help you look at PCEF which invests in closed-end funds with high yields and options income. It currently yields more than 8% and pays monthly dividends. The price can go down which will erode principal for a period of time, but it has always risen after such a period. Meanwhile, the income stream would continue or even rise which would defray losses.