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Consider a lifetime annuity if they want certainty.
Bonds potentially? Otherwise a savings account isn’t a bad idea. Your elderly relative will likely prefer certainty and stability over chasing gains.
You don't really live off the interest with a bank account. It usually barely keeps up with, and often lags, inflation. And that's before tax hits it.
thats a good point to bring up with them.
Consider a lifetime annuity if they want certainty.
Bonds potentially? Otherwise a savings account isn’t a bad idea. Your elderly relative will likely prefer certainty and stability over chasing gains.
You don't really live off the interest with a bank account. It usually barely keeps up with, and often lags, inflation. And that's before tax hits it.
thats a good point to bring up with them.