I managed to benefit from an inheritance lump sum payment overseas. After paying off my debts, I will still have majority of that inheritance lump sum. My goal for that money is to preserve its value. Investing them in GIC, bonds, or other cash-like liquid investments would get that fund eaten away fairly quickly through inflation. I was influenced heavily to purchase real estate, but I'm hesitant to do that due to its volatility. I'm leaning towards purchasing lifecycle funds, but I don't know how the risks would calculate out comparing to ROI. What are your thoughts, backed up with resources or calculations?
This is for a person who is close to retirement age located in Canada (the lumpsum is located in Hong Kong).
Thanks in advance!