|Must admit if you are going with six stocks I wouldn't include a bdc. That's just mho. |
To me the talking / explaining is the most important part. Older people can be funny.
I think you need to see what he really wants to do. Spend the income now? Have it set up
so at a later date he can decide to turn the spigot on and get a monthly dividend check?
Just a hunch, but with the question "what would you buy", thinking of setting it up and forgetting
it, as in a present for heirs?
My mother has always told me that any money she gives me to invest I should invest with
the eye that at some time 1/3 will be mine. I don't. I invest her money with the idea that at
82 and still living in her own home, she doesn't know what will happen. Maybe at some point
I have her sent a monthly check, or maybe she needs it all to cover nursing home expenses.
She owns stocks like ABT and PPL, but also MHR-d and GST-a for higher income now.
She also has a high yield closed end fund, state specific muni fund, and UTG, a utilities fund.
5 or 6 is tough. Nail biter for me. I know I am glad my youngest now has thirteen stocks instead
of the six we started with.
I put my cousins 84k in eight stocks: ABT, COP, CLX, JNJ, KMB, O, PG, and WM. He plans for it all
to go to the SPCA when he dies.
I put my buddys 25k into COP, KMB, WM, O, PPL and 200 shares of MHR-d. He is more concerned about
generating income when he retires and this was a trial run before he cashes in his 401k later this year.
Guess my point is that everyone is different.