Consider this: A daughter manages the finances of her 94-year-old mother, who lives in an assisted living facility.
Her mother’s investments include:
- 50% in relatively low-risk mutual funds.
- 40% in CDs.
- 10% in cash reserves.
The daughter wants advice about what to do when the CDs mature.
The recommendation:
In the article, Terry Savage recommends reinvesting in CDs with staggered maturities of less than one year.
Her reasoning is that protecting the money and keeping it accessible for care expenses is more important than pursuing higher investment returns.
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