If he/she distributes only $1000 monthly from the retirement account, then he/she has a low income. Does the person need to distribute and spend all the money and then qualify to get SSI or Medicaid?
Thanks.
Posts Tagged ‘100000’
Can a person who has a face value of $100,000 annuity or 401K and no money in bank qualify SSI and medicaid?
17
Mar
What is the best way to make money with $100,000?
01
Mar
To be blunt I have gotten a decent sum of money. After getting the family new house, car etc. We will have a good bit left over to make money off of. I am not looking to get rich fast or anything, but looking for something where I can get a decent interest check monthly or quarterly. If that is not possible (as I am finding out) I still can use the best option for some kind of growth.
There are so many options out there it is hard to find the best deal. I have been going all over town where we live speaking with everyone who says their plan is the best.
If you can help with input on which of these are best or anything I might be able to look into that I have not please let me know. Thanks
Stocks – Seem more like a big gamble right now due to the economy
Mutual Funds – Seems to be my best bet so far, fairly safe and steady growth
Annuity – Doesn’t seem practical right now since the money is normally locked up til your 59ish. (i am 30 right now by the way)
Life and Viatical settlements – Seem morally wrong to me so I would not do those.
CD’s – Have no intrest rate right now, might get about 1.5%
Savings Account – Close to CD looking at only 1%