Hello. My mother recently came into a sizable inheritance and I’m trying to set her up to live off the money. The total inheritance is about $2.2 million and it was all in MSFT.
We sold all but about $60k in MSFT and because of the adjusted cost basis she technically took a loss so she shouldn’t need to worry about capital gains on that sale.
She’s in a bad situation and desperately needs a new home, new car, furniture etc. She gets disability income of about $800 per month.
After the sale we set up a purchase of $100k into Schwab’s S&P500 fund (SWPPX)
I’d like to help her invest at least $1.2m into a decent retirement portfolio and use the rest to get a home and car and such and then see what remains.
My question is what stocks/funds and bonds would be good for a retirement income portfolio?
Should she purchase individual bonds or bond funds? Any general advice on which positions to take would be appreciated, thanks.
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