<prompt> Human: Hi all,Weve just closed a sale today for her house and after all her debts are paid off, were left with 50k in cash.Heres a quick rundown: 61 years old 0 savings, no 401k, no IRA account 20k Full time job 20k Self-Employed business 50k cash with no debtIve spoken with a brokerage rep, and he recommended that I set aside an emergency fund, open either a tIRA or Roth IRA, and put the rest in a taxable account. If her business grew bigger, he said to upgrade to SEP IRA and then Solo 401k, but I know for sure its not going to grow any bigger than 20k per year. He would not recommend an annuity at this time.Shell file for social security around 65 or 66 1000mo if she can keep working until then and apply for other benefits like medicare, subsidized housing, etc.Shes been working 7 daysweek for almost year and will probably quit her full time job soon due to immense stress and drama at that place.Her current total monthly expenses come to about 1800mo.My tentative plan: 10000 Emergency Fund 1 Ally Savings 6500 Roth IRA for 2016 6500 Roth IRA for 2017 27000 Taxable Account5050 AA - Total StockTotal Bond---Any inputs would be highly appreciated. Thank you.  <response>: Sounds reasonable.But just FYI that your mother will never have a great retirement with the funds she has now.I would delay collecting SS and keep her working as long as she can, contributing the max amount to the IRA every year you could convert the taxable money to IRA money. The longer you delay collecting SS, the more money she will be able to collect when she finally does. This may help keep her out of poverty. 