Long story short, very close family in bad shape from credit card debt.
66 years old
They will sell house (cant afford to maintain it) to pay off 130K in cc debt and 260K mortgage, then rent an apartment.
They will walk away with 0 debt. No bankruptcy.
50,000 to 80,000 in cash to their name.
Social security income of 5,000/month.
They will also plan to get full time job to add to nest egg
I want to put them with a fee based financial advisor so that I am not managing their assets, but what are some reasonable things to do with the 50-80K at their age?
BND?
HYSA?
Thanks in advance. This has been devastating to our family.