How would you invest for an 87 and 92-year-old who don't need to draw from their portfolio?

{"summary": "Author describes managing finances for five elder family members, preferring FDLXX and SGOV or BND over HYSA for state tax reasons, and never exceeding 50% equities.", "reason": "The author provides a specific rationale (state tax efficiency) for selecting these assets for elderly portfolio management.", "ideas": [{"symbol": "FDLXX", "direction": "long", "thesis": "Author prefers FDLXX for state tax reasons when managing elder family members' finances, blending it with SGOV or BND rather than using a HYSA. The mechanism is state tax exemption on Treasury money market income. Main risk is that a local bank relationship is still valuable for aging folks despite lower yield.", "thesis_short": "Prefer FDLXX over HYSA for state tax", "quote": "Personally for state tax reasons, I prefer FDLXX and SGOV or BND. I find a blend of those is better than HYSA.", "confidence": 0.65, "sentiment": 0.4, "timeframe": "unspecified"}, {"symbol": "SGOV", "direction": "long", "thesis": "Author blends SGOV with FDLXX or BND for elder family members' cash management, preferring it over a HYSA for state tax reasons. The mechanism is short-term Treasury exposure with state tax exemption. No specific catalyst or risk stated.", "thesis_short": "Blend SGOV with FDLXX for elder cash", "quote": "Personally for state tax reasons, I prefer FDLXX and SGOV or BND.", "confidence": 0.6, "sentiment": 0.4, "timeframe": "unspecified"}, {"symbol": "BND", "direction": "long", "thesis": "Author includes BND in a blend with FDLXX and SGOV for elder family members' fixed income, never exceeding 50% of liquid assets in equities. The mechanism is intermediate bond exposure for stability. No specific catalyst or risk stated.", "thesis_short": "BND in elder fixed income blend", "quote": "Personally for state tax reasons, I prefer FDLXX and SGOV or BND.", "confidence": 0.55, "sentiment": 0.4, "timeframe": "unspecified"}], "model": "gemini-3.1-flash-lite", "failure_count": 0, "verified": true, "extraction_model": "deepseek-flash"}