Parents are retired— should they invest?

Investing
#1

My parents are retired for 2 years now. They only have 250k in savings. I have suggested they invest in bonds to as least try and not lose as much to inflation. But I’m wondering if they should be investing at all. They are currently living off of social security. Ages 66 and 70.

Should they invest and if so what portions to what type of funds? Otherwise should they just keep their cash handy as an emergency fund? I’m 42 and know you keep investing, but them?— no idea how to help them with how little they have saved.

Thank you in advance!

#2

Do they have any earned income or only live off savings and SS?

Do they have any pensions?

Are they on medicare or a different health plan?

#3

They have no more earned income except for some very small projects here and there under the table (tiny eBay sales or a few hours of coaching per week (mom was former Olympic gymnastics coach)) that don’t amount to too much.

They are primarily living off social security.

They are both on Medicare.

Neither of them have any pensions.

#4

Hi Andrea,

That’s great that you are looking out for your parents :slight_smile: If you scroll down to “Ok, so how much at which age?” you will see the recommended asset allocation for ages 65+: Three-Fund Portfolio – Personal Finance Club