Investing large sum of money for max income

[NaturalBornHustler]

So my father recently sold one of his businesses, and he is due to get the remaining balance of about 500k in October for the final payment. He is 61, and needs to use that money to provide income for the rest of his life. Needless to say he has never had that much liquid cash at any point, his money has always been tied up in something or the other.

At my age I really don't know much about investing for income/cash flow now or investing at that age, so what options should he consider? We are going to lean to the more safe choices, at this point of his life he isn't going to do anything too risky. Just wants steady and stable cash flow.

I told him he gives it to me I'll make him 30% every year but he won't go for that unfortunately

[MumblesBadly]

So my father recently sold one of his businesses, and he is due to get the remaining balance of about 500k in October for the final payment. He is 61, and needs to use that money to provide income for the rest of his life. Needless to say he has never had that much liquid cash at any point, his money has always been tied up in something or the other.

At my age I really don't know much about investing for income/cash flow now or investing at that age, so what options should he consider? We are going to lean to the more safe choices, at this point of his life he isn't going to do anything too risky. Just wants steady and stable cash flow.

I told him he gives it to me I'll make him 30% every year but he won't go for that unfortunately

If he uses a financial planner, be sure that planner only charges a flat fee, and does NOT get *ANY* commissions for finders fees for investing. For example, try this site to look for one to scope out.

https://www.napfa.org

[Charham]

So my father recently sold one of his businesses, and he is due to get the remaining balance of about 500k in October for the final payment. He is 61, and needs to use that money to provide income for the rest of his life. Needless to say he has never had that much liquid cash at any point, his money has always been tied up in something or the other.

At my age I really don't know much about investing for income/cash flow now or investing at that age, so what options should he consider? We are going to lean to the more safe choices, at this point of his life he isn't going to do anything too risky. Just wants steady and stable cash flow.

I told him he gives it to me I'll make him 30% every year but he won't go for that unfortunately

IF he has any debt he should pay it off first. In this day and age of low interest rates he will have trouble generating much income. A few ideas: 1. US Treasuries 5-10 year duration max for the safest bet. 2. Inflation protected US government securities are good as well. VIPSX is a good fund. 3. Local to him (to avoid state taxes) municipal bonds can be good as well, but be careful of course. Avoid Chicago, Puerto Rico etc. bonds. 4. You can buy annuities directly (avoid insurance salesman at all cost) from Berkshire Hathaway and Vanguard direct. If your Dad is of good health the annuity will give him good income for the rest of his life, but bonds can pretty much do the same thing. GL.

[LarryLaffer]

So my father recently sold one of his businesses, and he is due to get the remaining balance of about 500k in October for the final payment. He is 61, and needs to use that money to provide income for the rest of his life. Needless to say he has never had that much liquid cash at any point, his money has always been tied up in something or the other.

At my age I really don't know much about investing for income/cash flow now or investing at that age, so what options should he consider? We are going to lean to the more safe choices, at this point of his life he isn't going to do anything too risky. Just wants steady and stable cash flow.

I told him he gives it to me I'll make him 30% every year but he won't go for that unfortunately

IF he has any debt he should pay it off first. In this day and age of low interest rates he will have trouble generating much income. A few ideas: 1. US Treasuries 5-10 year duration max for the safest bet. 2. Inflation protected US government securities are good as well. VIPSX is a good fund. 3. Local to him (to avoid state taxes) municipal bonds can be good as well, but be careful of course. Avoid Chicago, Puerto Rico etc. bonds. 4. You can buy annuities directly (avoid insurance salesman at all cost) from Berkshire Hathaway and Vanguard direct. If your Dad is of good health the annuity will give him good income for the rest of his life, but bonds can pretty much do the same thing. GL.

we're broke.

[NaturalBornHustler]

So my father recently sold one of his businesses, and he is due to get the remaining balance of about 500k in October for the final payment. He is 61, and needs to use that money to provide income for the rest of his life. Needless to say he has never had that much liquid cash at any point, his money has always been tied up in something or the other.

At my age I really don't know much about investing for income/cash flow now or investing at that age, so what options should he consider? We are going to lean to the more safe choices, at this point of his life he isn't going to do anything too risky. Just wants steady and stable cash flow.

I told him he gives it to me I'll make him 30% every year but he won't go for that unfortunately

IF he has any debt he should pay it off first. In this day and age of low interest rates he will have trouble generating much income. A few ideas: 1. US Treasuries 5-10 year duration max for the safest bet. 2. Inflation protected US government securities are good as well. VIPSX is a good fund. 3. Local to him (to avoid state taxes) municipal bonds can be good as well, but be careful of course. Avoid Chicago, Puerto Rico etc. bonds. 4. You can buy annuities directly (avoid insurance salesman at all cost) from Berkshire Hathaway and Vanguard direct. If your Dad is of good health the annuity will give him good income for the rest of his life, but bonds can pretty much do the same thing. GL.

Only debt is his mortgage, but that is at some insanely ridiculously low rate/payment so he is going to leave that alone. (His original mortgage was financed by a company who got a huge class action judgement against them for fraud or something, and were forced to modify his loan to some pretty crazy terms in his favor. I actually thought it was a scam when he first told me about it, but it is legit). Decent health situation, nothing really going on there.

TY on everything else, noted.

I figured with rates where they are it was going to be tough to generate much, that is mainly why I am asking.

[Daly]

Pay a professional to look over the whole Situation. And make sure said professional is a fiduciary for your father and not some grad school salesman asshole that's sole purpose is to sell you shit you don't need.

[lvl60Druid]

So my father recently sold one of his businesses, and he is due to get the remaining balance of about 500k in October for the final payment. He is 61, and needs to use that money to provide income for the rest of his life. Needless to say he has never had that much liquid cash at any point, his money has always been tied up in something or the other.

At my age I really don't know much about investing for income/cash flow now or investing at that age, so what options should he consider? We are going to lean to the more safe choices, at this point of his life he isn't going to do anything too risky. Just wants steady and stable cash flow.

I told him he gives it to me I'll make him 30% every year but he won't go for that unfortunately

Use part of it for seed money to start a ponzi scheme. Since you are a scammer, you would be good at that sort of thing.

[NaturalBornHustler]

Pay a professional to look over the whole Situation. And make sure said professional is a fiduciary for your father and not some grad school salesman asshole that's sole purpose is to sell you shit you don't need.

Probably will do that eventually but I want info from all angles beforehand. He really isn't "plugged in" with what is going on these days and how to invest that kind of money properly. I am making it my mission he doesn't get hustled out of one dollar and gets max return in a safe manner. He busted his ass his whole life and I want to make sure his last 20 years or so on earth are as pleasant as possible.

[snake_in_the_ass]

Pay a professional to look over the whole Situation. And make sure said professional is a fiduciary for your father and not some grad school salesman asshole that's sole purpose is to sell you shit you don't need.

I don't recommend using a professional. You can find everything you need to know for free online. Most of these scumbags will try to sell your father tax free municipal bonds and they take a hefty cut on the back end. You could buy those same bonds using etrade without the middle man fee. There is really nothing your father can do in this interest rate environment to make money unless he wants to gamble in real estate or stocks.

[Tellafriend]

So my father recently sold one of his businesses, and he is due to get the remaining balance of about 500k in October for the final payment. He is 61, and needs to use that money to provide income for the rest of his life. Needless to say he has never had that much liquid cash at any point, his money has always been tied up in something or the other.

At my age I really don't know much about investing for income/cash flow now or investing at that age, so what options should he consider? We are going to lean to the more safe choices, at this point of his life he isn't going to do anything too risky. Just wants steady and stable cash flow.

I told him he gives it to me I'll make him 30% every year but he won't go for that unfortunately

Invest with Pooh.

[snake_in_the_ass]

Pay a professional to look over the whole Situation. And make sure said professional is a fiduciary for your father and not some grad school salesman asshole that's sole purpose is to sell you shit you don't need.

Probably will do that eventually but I want info from all angles beforehand. He really isn't "plugged in" with what is going on these days and how to invest that kind of money properly. I am making it my mission he doesn't get hustled out of one dollar and gets max return in a safe manner. He busted his ass his whole life and I want to make sure his last 20 years or so on earth are as pleasant as possible.

I know a lot of stock brokers who charge 1% to manage money and they are the dumbest people on the planet. Even big hedge fund managers are losing their asses in the market. No professional can get you a return greater than a CD pays without taking on risk. If they tell you different, they are lying.

[NaturalBornHustler]

Pay a professional to look over the whole Situation. And make sure said professional is a fiduciary for your father and not some grad school salesman asshole that's sole purpose is to sell you shit you don't need.

I don't recommend using a professional. You can find everything you need to know for free online. Most of these scumbags will try to sell your father tax free municipal bonds and they take a hefty cut on the back end. You could buy those same bonds using etrade without the middle man fee. There is really nothing your father can do in this interest rate environment to make money unless he wants to gamble in real estate or stocks.

I was going to propose real estate option to him, it probably is the easiest way to make a decent return that I know of right now.

[sah_24]

Pay a professional to look over the whole Situation. And make sure said professional is a fiduciary for your father and not some grad school salesman asshole that's sole purpose is to sell you shit you don't need.

I don't recommend using a professional. You can find everything you need to know for free online. Most of these scumbags will try to sell your father tax free municipal bonds and they take a hefty cut on the back end. You could buy those same bonds using etrade without the middle man fee. There is really nothing your father can do in this interest rate environment to make money unless he wants to gamble in real estate or stocks.

This, buy some bitcoin , buy some gold , buy some silver , and buy some companies that actually still are making money and hope for the best.

[Sanlmar]

Probably will do that eventually but I want info from all angles beforehand. He really isn't "plugged in" with what is going on these days and how to invest that kind of money properly. I am making it my mission he doesn't get hustled out of one dollar and gets max return in a safe manner. He busted his ass his whole life and I want to make sure his last 20 years or so on earth are as pleasant as possible.

I know a lot of stock brokers who charge 1% to manage money and they are the dumbest people on the planet. Even big hedge fund managers are losing their asses in the market. No professional can get you a return greater than a CD pays without taking on risk. If they tell you different, they are lying.

Read what snake is saying, especially the bolded, several times.

Nobody has a magic answer for achieving greater than CD. Opinions are as plentiful as the assholes and half wits in financial planning.

The best move would have been to have a successful business running with good systems and procedures by the time he retired. This instead of relying on someone else's business to earn your income.

[Pooh]

Do what Daly said. Your father doesn't seem to know a whole lot about the market and how to make a decent return in it. Would it be easy to get a return of 10% annually in income? Sure, even in this market but there is risk and its nothing he should be getting in to. Not at his age.

[Pooh]

sah - you fucking retarded? Try to comprehend what Daly wrote you dumb cocksucker.

[ToasterOven]

I don't recommend using a professional. You can find everything you need to know for free online. Most of these scumbags will try to sell your father tax free municipal bonds and they take a hefty cut on the back end. You could buy those same bonds using etrade without the middle man fee. There is really nothing your father can do in this interest rate environment to make money unless he wants to gamble in real estate or stocks.

This, buy some bitcoin , buy some gold , buy some silver , and buy some companies that actually still are making money and hope for the best.

Buy bitcoin, silver and gold? Are you legit retarded? Is that the Glen Beck School of Economics?

[shortbuspoker]

just kidding. have no clue. good luck

[Pooh]

The main problem is we're in a rare place where interest rates are super low and the stock market is super inflated meaning there aren't great places to make either interest or dividends. Sure you can still get 4 or 5% in dividends in some stocks but the capital loss will more than offset that once the market takes a dump which it will. If he just wants income and doesn't care about principle as much then it is a much easier decision.

High yield CEFs? Spread is currently 6% so it isn't time to buy, it's time to hold those even though many are paying over 10%.

Stocks like T, VZ and O? Still paying a nice yield but shares are inflated.

I got nothing. Have him throw it in something like BOND and wait out the carnage when it happens later this year and 2017. Then there will be a shit ton of things to buy.

[GrenadaRoger]

So my father recently sold one of his businesses, and he is due to get the remaining balance of about 500k in October for the final payment. He is 61, and needs to use that money to provide income for the rest of his life. Needless to say he has never had that much liquid cash at any point, his money has always been tied up in something or the other.

At my age I really don't know much about investing for income/cash flow now or investing at that age, so what options should he consider? We are going to lean to the more safe choices, at this point of his life he isn't going to do anything too risky. Just wants steady and stable cash flow.

I told him he gives it to me I'll make him 30% every year but he won't go for that unfortunately

depending on the income anticipated from the remaining businesses, he could take a note receivable on the $500K balance and spread the gain out over a few years, thereby taking advantage of lower tax brackets, that might be tax advantageous...the note will pay interest as well

for an older person that doesn't have time to make a fortune again, invest for safety and income...Verizon, ATT, GE etc pay good dividend yields and are stable price wise...bonds