What is the best investment option for 87 year old?

ZeroSum

dunstonh said:

Stubod said:

..at that age I would forget about any investments, withdraw all the money and put it into the best savings account you can find and then draw it down to suit their needs...

But around half of 87 year olds will make 94.  So, you could well be kissing goodbye to a lot of capital.
This is the problem with trying to give the OP an answer as there is insufficient information to go on.  Plus, you have people with different views that may or may not be suitable for the scenario that the OP has not given us.

They may well live a few more years but what's the quality of life.?

If bedridden, its pretty pointless. 

At that age I'd be getting it spent

steampowered

Why are you annoyed by the charges? Were you expecting the IFA and fund managers to work for free? These charges aren't very much at all.

Your mother is in a much better position paying these charges than she would be keeping the money in a bank account.

If the money was just kept in a savings account, there would be a £1,600 loss each year to inflation. That's the amount of capital she would would lose every year to inflation if one assumes the Bank of England inflation target of 2% - considerably more than the charges. I think it would be a good idea for the government to issue statements showing an "inflation charge" so people understand the impact of inflation on their savings.

Albermarle

ZeroSum said:

dunstonh said:

Stubod said:

..at that age I would forget about any investments, withdraw all the money and put it into the best savings account you can find and then draw it down to suit their needs...

But around half of 87 year olds will make 94.  So, you could well be kissing goodbye to a lot of capital.
This is the problem with trying to give the OP an answer as there is insufficient information to go on.  Plus, you have people with different views that may or may not be suitable for the scenario that the OP has not given us.

They may well live a few more years but what's the quality of life.?

If bedridden, its pretty pointless. 

At that age I'd be getting it spent

I think you are jumping to assumptions here that an 87 year old will end up bedridden and that she wants to spend it all.
She may well understand about investing and not want to give up just because of her age . Also she may wish to leave as much as possible as an inheritance. 

Notepad_Phil

If all she has is the £80,000 investment and the basic state pension then I'd probably agree that she may want to consider moving at least some of it to cash - however we know nothing of her total position. If she has other sums stored away and other income coming in then having £80,000 in this investment may very well be a very sensible thing to have.

ZeroSum

Albermarle said:

ZeroSum said:

dunstonh said:

Stubod said:

..at that age I would forget about any investments, withdraw all the money and put it into the best savings account you can find and then draw it down to suit their needs...

But around half of 87 year olds will make 94.  So, you could well be kissing goodbye to a lot of capital.
This is the problem with trying to give the OP an answer as there is insufficient information to go on.  Plus, you have people with different views that may or may not be suitable for the scenario that the OP has not given us.

They may well live a few more years but what's the quality of life.?

If bedridden, its pretty pointless. 

At that age I'd be getting it spent

I think you are jumping to assumptions here that an 87 year old will end up bedridden and that she wants to spend it all.
She may well understand about investing and not want to give up just because of her age . Also she may wish to leave as much as possible as an inheritance. 

Hence why I said "if"
As for inheritance, given that she's at average life expectancy limit (and a killer virus going round) , that could seriously backfire in these uncertain times. 

schiff

ZeroSum said:

They may well live a few more years but what's the quality of life.?
If bedridden, its pretty pointless. 
At that age I'd be getting it spent

Imagine you are 87 with the physical and mental faculties of an average 87 year old, what would you be getting it spent on? Paragliding, cruises, bungee jumping, the beach in Antigua, a yacht, a new sports car? I think most 87 year olds with £80K available would accept that it may be needed for care, then, if not, left for her family.

Eco_Miser

ZeroSum said:

dunstonh said:

Stubod said:

..at that age I would forget about any investments, withdraw all the money and put it into the best savings account you can find and then draw it down to suit their needs...

But around half of 87 year olds will make 94.  So, you could well be kissing goodbye to a lot of capital.
This is the problem with trying to give the OP an answer as there is insufficient information to go on.  Plus, you have people with different views that may or may not be suitable for the scenario that the OP has not given us.

They may well live a few more years but what's the quality of life.?

If bedridden, its pretty pointless. 

At that age I'd be getting it spent

If I were bed-ridden, I would appreciate having £80k  to spend on a bed-sore preventing bed, and someone to look after me.

Or maybe a super-duper wheelchair, so that I wasn't bed-ridden.

schiff said:

Imagine you are 87 with the physical and mental faculties of an average 87 year old, what would you be getting it spent on?

A couple of ladies around that age of my acquaintance spent on week long breaks at The Grand Hotel, Scarborough, several times a year. Not quite Antigua, but exciting enough for them.

Sailtheworld

Steve's mother has employed the services of an IFA and formulated an investment approach. Maybe it's the perfect approach for her?

I'd have already given some of this away but I'm not Steve's mother.

badger09

schiff said:

ZeroSum said:

They may well live a few more years but what's the quality of life.?
If bedridden, its pretty pointless. 
At that age I'd be getting it spent

Imagine you are 87 with the physical and mental faculties of an average 87 year old, what would you be getting it spent on? Paragliding, cruises, bungee jumping, the beach in Antigua, a yacht, a new sports car? I think most 87 year olds with £80K available would accept that it may be needed for care, then, if not, left for her family.

This ^^^^^

schiff

I'll leave buying your 88th birthday card to a bit nearer the time. Hate wasting money