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If she was married to your dad for at least 10 years, and does not remarry, she is entitled to half his social security benefit. She should also be able to qualify for medicare if they were married for that ten year period. She should probably try and delay taking social security until age 70 to increase her benefit, since 50% of a shady sounding tax avoider's SS benefit probably isn't that much. The pension sounds like an important thing to figure out, since even if it will only pay her $300 per month in retirement, that would be like having another $100k right now. So a small amount of guaranteed monthly income can be a huge deal. If she is a relatively conservative person (just stereotyping here) then I would suggest you look for a balanced fund that it somewhere around 40% stock and 60% bonds and just put everything in that. It will keep it as simple as possible without huge value swings but still some better upside potential than just bonds/savings. People love the Vanguard Wellesley Income Fund for that, and I'm sure Fidelity has similar options - or you can roll your Fidelity 401k over to Vanguard and just invest there. Call Vanguard and they will walk you through it.
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Sep 13, 2014 09:07
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| # ¿ May 21, 2024 13:10 |
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