Helping Take Care of Mom

Helping Take Care of Mom
Your golden years are a time to enjoy and prioritize your own household. RetroClipArt/Shutterstock
Dave Ramsey
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Dear Dave,

My mother-in-law is 85, and she’s had some health setbacks recently. The family got together with her, and as a group, we decided it was time to sell her property and move her into an apartment at a nice senior living facility. She should see a little more than $300,000 from the sale of her house. Aside from that, she has about $10,000 in a savings account. The problem is, she’ll only receive $2,100 a month in Social Security, and rent at the facility is $2,600 per month. Plus she loves making donations to charities. With interest rates where they are, is a CD ladder a good place to put the money to help her cash flow expenses in the future?

Dave Ramsey
Dave Ramsey
Author
Dave Ramsey is CEO of Ramsey Solutions, host of "The Dave Ramsey Show," and author of best-sellers including “The Total Money Makeover.” Follow Dave at DaveRamsey.com and on Twitter @DaveRamsey.
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