A friend of mine [View all]
is going to be getting a good sum of money soon (around $200K).
He's approaching 60 but plans to work for some years yet. His job security looks pretty good right but we all know that can change in a heartbeat. He makes pretty decent money for now.
He doesn't have that much retirement left - between having to dip into it when out of work and the stock market tanking. Maybe 65K plus some equity in his house (that needs some repairs). Which btw he'd love to sell and move into something much smaller since he divorced and his children had already left home and now the yard work is getting to be too much.
What's the best thing to do with the money? He's leery of the stockmarket - even the mutual funds which he's got, but doesn't want to just stick it in a savings account or low rate cd. Any suggestions?
His only other real debt besides the house is his kids college loan - about $6K left, and a car payment owes about $11K on that. He does still help his kids out, too when he can.
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