Hey guys-looking for some advice. My grandma is 92 and due to having some issues with her kids I'm managing her assets. Her physical health is good, however she also has stage 6 dementia (there's a total of 7 stages). The average life expectancy for someone with this is 4 years or fewer. This is not age adjusted A big more below:
Her expenses are about $4,500. She has $1300 in social security-bringing her net expenses to about $3,200/month
Her asset base is about 600K and it's currently all in a hysa earning about 4.8%. This creates about $2,400/month on a pretax basis so we can estimate $2,000 after taxes. Effectively we are going into the principal at about $1200/month or $14,400 per year. My thought is to invest her funds as shown below:
25%-VOO-dividends reinvested
25%-SCHD-dividends reinvested
10%-FZILX-dividends reinvested
40%-money market/CD's.
My thought was to dollar cost average over the next 24 months. No rhyme or reason here just seems that the market is a little overheated.
Any guidance is appreciated. Thanks in advance and happy to answer any questions.