Dear Reddit, I am looking for your wisdom, knowledge, and guidance. I'm 66 years old, retired, and live in the US. I have no debt (car and mortgage have been paid off), have minimum expenses (I do not forsee any other unexpected expenses in the near future granted my health), and live a modest life.
I have about $900k in life savings in a HYSA at a rate of about 4% last calendar year, and just renewed the contract. I am seeking advice on how to best optimize growth over the next 5 - 10 years, but also sustainably live off this fund. After some research, I am thinking of finally putting the lumpsum into the S&P500. Would this be wise? What are your thoughts?