<prompt> Human: So my grandma is 81yrs old and she has about 35k an IRA and she just sold her house which will give her 100k in cash. We are wondering where to put the 100k. Her financial consultant recommended 3 dif American Fund SharesThe best option invests in a few different funds such as; American Balanced Fund A, Capital World Growth and Income Fund A, New Perspective Fund A, The Bond Fund of America A, Washington Mutual Investors Fund A. All these funds charge a flat 5.75 initial investment fee and an operating fee from .6 to .82. It seems like me the 5.75 fee is a huge ripoff and should be avoided at all costs. I was talking to my mom and they need this money for my grandma to live off of for as long as possible, and we cant really afford to lose much of it. Otherwise she goes on government help much sooner than expected and the kids will have to start paying grandmas bills. I recomended my mom ask the financial consultant to see what she can offer from vanguard. But at the same time Im thinking if they cant really afford to lose any of it maybe we are just better off sticking it in a bank account, instead of risking losing some principle for a 5 gain.I would very interested to hear what people think about this, or if anyone has been in a situation.Assistant: If your grandma has been using a financial consultant--somebody whos supposed to make sure you have enough money--that consultant doesnt seem to be doing very well. 135k would probably last your grandma... 3 years? 4 years? Im surprised you havent fired her already.How much is she getting from social security?And yes, the 5.75 fee is atrocious. I would guess that even a plan income fund in Vanguard would do better, after all the fees and expenses.Realistically, your grandma is going to cut down her expenses or you are going to have to support her. A quick search says an 81 year old woman in the US can expect to live for another 9 years. Thats the statistical average. She is just as likely to live longer than that than not.Human: she gets about 20k a year from social security. Unfortunately cutting down on expenses isnt really an option. She only spent about 10k on herself the last few years. The rest is for senior living.  <response>: Can she live with a relative? Better someone do that now and have her save money before someone is completely paying for her. 