Investing for old people

Totton

if you've only got about enough to support yourself for the rest of your life, you'd want to avoid investments.

I often read that an income of 4% is achievable with a good chance of at least sustaining the capital amount. Might be worth deciding on an amount of income required and then if 4% is sufficient, invest the capital into something like a mix of IT's.

Regards,
Mickey

dunstonh

Why do banks not want money invested by 90+ year old people. My mother has now sold her house but we are finding that some banks are just turning her away and do not want her money.

Most 90+ year olds do not want to start investing at that time in life. If they are already experienced investors they may well want to keep investing but then an experienced investor would not go near a bank. They would use an IFA or DIY.

Most banks now have a maximum age to invest money to protect themselves from complaints, redress and fines.

Also, as mentioned higher up on this thread, this only applies to investments. It does not apply to savings/deposits.