My mom has a significant amount of money in just cash.
\\-$103K in an IRA in FZBXX.
\\-Nearly $86K in checking accounts.
She has social security and a small pension. She doesn’t need any additional income to cover her needs.
I have advised her to open a joint brokerage so we can drag that cash into it and invest it in something better than a checking account. I’ve recommended very simple investments so she doesn’t have to do any rebalancing. She has no appetite for risk. None. Will not consider losing anything to the stock market.
\\-all $103K into VWINX in the IRA.
\\-all $75K lump sum into VTMFX.
Given her low risk tolerance, and that she lacks the savvy to rebalance anything on her own, does this seem like a good setup?
Also, does anyone see any benefit to opening a Roth IRA at her age and doing Roth conversions? Thank you.