He had a medical emergency and during a long 10 month recovery he used his retirement funds for living expenses- all of it, 175k. He had partial disability coverage which ran out, and he used his retirement savings to stay afloat. finally he lost his job due to the extended leave of absence.
Now nearly recovered, he is job hunting with good prospects (70-80k income) and has a pending liability lawsuit with the business responsible for his injury. He thinks that he may have about 70-100 k coming in a few months and would like to “sure up” his retirement accounts. Since he can’t replace funds in his deferred comp plan, and there is a relatively low cap on annual ROTH IRA’s.
Suggestions on safe-ish investments?
He doesn’t have great impulse control, so trying it up in something that allows a monthly payment to him at 66 would be great, but I hate to even think of annuity. No spouse, fair health. ideas?