What is the way BES for a senior citizen to invest?
My mom has $ 100 to $ 200 a month to invest. His first wish was to buy life insurance, but that is not insurable, because of poor health (very bad). All I get social security. I know I can contribute to an IRA, because it must be working, right? So she is looking into the money markets or income. I want to help but do not know much about these things. CD's have been discarded because it does not have a lump sum. To put a small amount each month and get the highest amount of interest. We know that most savings accounts are pathetic as far as interest earned.
Good for you for helping mom. The boomerang of karma will definitely be you. Taking into account the amount you should find out the minimum required to open an account with a fidelity, Schwab or TDAmeritrade. Once opened, it can buy some stock dividends paid (Bank of America gives about 9% now) or buy municipal bonds ($ 1000 increments) that are giving 4-6% tax free. These options are fairly safe investment options. Either way you read it over investment and the options available to her.
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