I may have an unusual question here, since a lot of you are on the younger side
My mother is a bit more than 70 years old, with some health issues. She’s currently staying in an assisted living home, which means she’s renting her own place, and there is a nurse coming once every few days to check on her, plus some alarm system if no movement is detected in 24 hours, etc.
She’s more or less fine now, but in a few years she’ll need to move to a retirement home (APH in German, EMS in French), where the fees are way higher (at least a few thousands each month).
She owned a home that she sold for a large sum, so she has a fortune of about 700’000 Swiss francs.
Currently, her expenses are around 1000 Swiss francs than her revenue (retirement pensions). The expenses are in my opinion well optimized, so we can’t really get lower.
I would like some advice on how to use these 700’000 francs, knowing that we need to get 1000 each month to cover the difference in expenses, and with the knowledge that one day we’ll have to use the money to pay for the expensive retirement home.
Basically, something safe enough for a short term, while gaining something better than the current anemic bank interest rates.
I’m happy to provide more details if necessary.
Thanks a lot for your help!