Q & A
Geoff may have only five years to live and would like some advice on ...
What to do with $460k in cash
Q My wife and I are 79 and 84 respectively. I have only five years left, according to medical advice. We have recently downsized to an apartment and sold our home of 50-plus years.
We both have a more than adequate superannuation income (she takes only half of the original amount) leaving us with a surplus each month.
Assets include a share portfolio of $600,000 (mainly banks) and income greater than $23,000pa. We have had our shares for 40-plus years and seen a few ups and downs.
The problem is what to do with $460,000 now in a bank. The possibilities are to invest in:
• Exchange traded funds (ETFs), such as Vanguard (VAS) or Betashares A200 (directly).
• Argo or AFIC.
• Invest through a vehicle such as Stockspot or InvestSMART.
Of course, the ASX might suffer a major downturn during the next four to five years. However, our children (and my wife) do not have to sell at a loss. They could wait for the market to rebound. I am assuming that they have the wit to hold these assets as sources of income (I hope I am right in
