Personal Investment Advice?

What is some advice you could give me for a 85 year old homeowner collecting Social Security and drawing from a dwindling retirement savings...


like...





long term or short term ?


time frame ?


aggressive or conservative ?


growth or income ?


liquidity ?


is inflation a factor?


is dollar cost averaging be appropriate ?


is the strategy of 'pay yourself first' (saving money for yourself first before spending/ returning it) appropriate ?





Thanks! With this market, I have no idea what would be a good idea!! :DPersonal Investment Advice?
Reverse mortgage is most certainly the way to go. Basically you collect money each month from the equity that you've built up in your home. As long as you own a home, are at least 62, and have enough equity in your home, you can get a reverse mortgage. There are no special income or medical requirements and the money you collect can be used for ANYTHING! I highly recommend talking to a specialized consultant about reverse mortgages. Here is an excellent website for all of your questions, just go to the Q %26amp; A section and you should be able to get most of your questions answered for you. www.reversemortgage.org





Best of Luck!Personal Investment Advice?
I think that you need to sit down with two or three fee only Certified Financial Planners and ask them for a general plan. They should be happy to give you a general ';plan'; for free just to get your business. Go over the plans and choose the advisor and plan with which you are most comfortable.
Talk to an investments rep. They don't charge for a consultation and they deal with this kind of thing everyday. I recommend going to your local bank that you have an established relationship with. They are less likely to try to fleece you.
At 85 it is too late for investing strategies. How about a reverse mortgage? Make much more sense than risking what little savings are left