Hello, I'm new to the forum and could use some advice. My parents who are in their early 90s, will be receiving funds from the sale of their house in the next month. It's about $200,000. They need to use the funds to help pay for their retirement expenses and they will need to withdraw about $4,000 per month. One of my concerns is that they may outlive their equity at the rate of withdrawal. The other concern is to invest in something safe and liquid. Does anyone know of an annuity product that might be appropriate in their case? Any other suggestions for managing the equity would also be appreciated. They live in Ontario.
Bob
Bob