Hello BHs- I am looking for recommendations for simple / conservative portfolio for 90+ year old parent with about 2.5m in assets, managing with a sibling. Although my parent is very risk adverse, the portfolio is not very conservative IMO. currently all over the place with 6 different institutions including single company stock from long ago that has gone up/ down considerably over last 60 years - GE (15%), total market equity funds (50%), money markets (15%) and CDs (20%). Until recently way too much in non interest bearing checking (up to 50%!). No real estate.
Living expenses fully covered by LTC insurance and pensions / SS, and do not anticipate needing to draw significantly on other accounts through their remaining lifetime. Mostly in taxable accounts (80%). Total of 7 different accounts, including VG brokerage where about 30% of assets reside.
We are considering something like VG life strategy income or VG retirement income fund for majority of assets that can be moved / transferred without significant tax implications and when CDs come due (9 months), plus any new income. Lives in CA so also considering CA muni fund. Trust, POA paperwork all in place. Probably can’t sell much of single company stock due to cap gains concerns, but turned off reinvestments.
Goals are to preserve/ grow assets for estate, minimize tax drag, and simplify decision making and management.
Appreciate your thoughts and suggestions!
Living expenses fully covered by LTC insurance and pensions / SS, and do not anticipate needing to draw significantly on other accounts through their remaining lifetime. Mostly in taxable accounts (80%). Total of 7 different accounts, including VG brokerage where about 30% of assets reside.
We are considering something like VG life strategy income or VG retirement income fund for majority of assets that can be moved / transferred without significant tax implications and when CDs come due (9 months), plus any new income. Lives in CA so also considering CA muni fund. Trust, POA paperwork all in place. Probably can’t sell much of single company stock due to cap gains concerns, but turned off reinvestments.
Goals are to preserve/ grow assets for estate, minimize tax drag, and simplify decision making and management.
Appreciate your thoughts and suggestions!
Statistics: Posted by Coastfical — Thu Dec 28, 2023 11:40 am — Replies 2 — Views 156