Sister retiring with basically no investment / savings

Basically title says it all. I am attempting to help my sister who has no investment knowledge and very little interest in learning. She will get social security but does not know how much. I asked her to log on and find out. She said she will. She turns 65 in 1-1/2 months. I told her make sure you sign up for Medicare.

Her is the rub - she will be getting about $250,000 from our Mom's estate. I told her she needs to invest this money for her retirement. I am reluctant to recommend a financial advisor as I don't want her to pay a percentage of her inheritance since she does not have a lot to start with and her situation is pretty simple.

AI recommends for someone in her situation do a split of 70% BND and 30% SCHD. This will give her some interest/dividend income in addition to her unknown social security monthly amount.

Any have any thoughts or recommendations?

Her housing and utilities are taken care of by family. Her expenses as near as I can guess is car insurance, food, pet care for a dog, clothing and not much else.

Posted Jul 29, 2026, 1:03 PM UTC

1963
Loading comments…