I would like to get an opinion on different type of investments. There are a few factors to take into consideration. It is not for myself - it is for my mother in law. My father in law recently passed away. Unfortunately they did not always do the correct things in life, i.e. take care for your old age.
But neverless, we now have to help her out financially. She will be getting approx R300 000.00 from a policy they did have. This is not a lot of money considering she is not employable at the age of 69, but is relatively healthy.
What advise could the investment gurus give me to do with this money. As far as I can see - if I invest this money in a Nedbank Senior Citizens account the best I can arrange for her is 8.7% interest. I also looked at a Liberty policy which is 17.5 % interest paid out monthly but the capital amount depreciates and will run out in 5 years. My thinking is if she invested R300 000 at 8.7% interest, she will get a monthly interest of approx R2175 per month which she will then have to live on - everything else including rent I will have to pay.
Any advice will be really appreciated