Looking at investments
With a matured IRA in Dec. and new even lower CD rate, the research I've done says bonds may be on the way down with the govt. not pumping them up as they have, interest rates may be heading up, and index funds are most recommended. I'm looking at Vanguard Wellesley and Wellington, and there are several others that look stable with a return of around 8 to 15%. The costs are very low, you can make changes at anytime. Some of the "widow" stocks that have been recommended for safety and dividends(were about 5% quarterly) are Duke Energy, Verizon.
I would NOT invest in annuities....first words out of the mouth of every financial planner...non liquid, they get big commissions, if you withdraw sooner than the term, penalties wipe out gains.
CD's are FDIC insured for every beneficiary you have on the account, so
two beneficiaries would be insured for $250,000 each, or $500,000 total, if I remember correctly. Ask the bank, as some are not even well informed about it.
I negotiated a CD with a local bank for 1.45% (not much, but better than me paying them) that is a 5 yr., but they waived the term if I want to withdraw all of it at anytime, I can without penalty and can deposit or withdraw at any time, but not use it as a checking account. Some banks WILL negotiate CD rates. Be sure there's no fees if you move it to another bank at maturity (Wells Fargo does, I think).
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