The amount in question is around $200,000. I know he has other savings as well but not sure how much or where it's invested. I just know he wanted to protect this money while maximizing the return. I talked with him again and he wants to sit down and go over all of his investments. This will give me a much better idea of what he has and how much he has in the market.
This particular money is currently in a traditional IRA money market account. I am not sure if he can invest it in CDs or not. I know I can in my fidelity roll over ira. I will talk with him about your plan Jim. I am hoping that he has a decent amount in equities already and this is the money he expects to spend over the next 10 years or so.
He is currently 68 I believe. His wife is 65 and is still working but not making very much.
He doesn't want any annuity where the company gets to keep the principle.
Thanks again for all the info and ideas. They have been very helpful.
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