I have a friend that is getting about 400k as part of a retirement payout. (choose this over the 9k a year they were offering for installments)
My question is where should they invest this? Not looking for specific companies (but feel free to comment) but looking for a service type that would fit their needs based on the specifics below:
- They own home outright.
- They have a healthy savings and no debt.
- They would like to invest the money aggressively for their age - not outrageous but aggressive.
- For the most part they want index funds or funds with no/low fees.
- Having their funds liquid is a want.
- They are alone - so no other money income.
- They have about 2 weeks to give company address of where money will be deposited.
- Friend will start drawing dual social security and money off an annuity soon. For the most part they could live off of this, as house is paid for.
- In USA.
- Eligible for IRA? I need to ask.
I probably have more info, just ask.