Parents sold second home. Need advice on how to invest $$$ [Spain]

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richard37
Posts: 91
Joined: Wed Mar 20, 2013 10:38 am

Parents sold second home. Need advice on how to invest $$$ [Spain]

Post by richard37 »

Hi all -

My parents live in Spain and own a home there and until recently also owned an apartment (investment property). They did not have a mortgage on the apartment and have just sold it for around $150K.

They are both in their early 70s, live fairly modestly, don't have a mortgage on the house or any other debts and my father receives a regular pension from his previous employer in the UK. Any suggestions on how to invest the 150k? They are planning on speaking to a financial advisor but I was hoping to give them some suggestions.

Thanks in advance!
hicabob
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Location: cruz

Re: Parents sold second home. Need advice on how to invest

Post by hicabob »

Buy an SPIA and start living less modestly?
Topic Author
richard37
Posts: 91
Joined: Wed Mar 20, 2013 10:38 am

Re: Parents sold second home. Need advice on how to invest

Post by richard37 »

Thanks. Think they are pretty happy with their lifestyle (on the golf course 3 or 4 times a week!) so was thinking more along the lines of where to invest versus extra income.
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Ged
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Re: Parents sold second home. Need advice on how to invest

Post by Ged »

The first suggestion is to avoid financial managers!

If their income needs are truly met I'd suggest a 3 fund portfolio at Vanguard with about 50% in equities.
denovo
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Re: Parents sold second home. Need advice on how to invest

Post by denovo »

Ged wrote:The first suggestion is to avoid financial managers!

If their income needs are truly met I'd suggest a 3 fund portfolio at Vanguard with about 50% in equities.
This.
"Don't trust everything you read on the Internet"- Abraham Lincoln
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Watty
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Re: Parents sold second home. Need advice on how to invest

Post by Watty »

denovo wrote:
Ged wrote:The first suggestion is to avoid financial managers!

If their income needs are truly met I'd suggest a 3 fund portfolio at Vanguard with about 50% in equities.
This.
+1

At the very least they need to know exactly how the financial adviser is compensated.
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