September 10, 2017, 6:00 AM
Dear Mr. Berko: I have cancer, and the prognosis is not good. I am 71 and might be able to live for another seven to eight years with proper care, which, as you know, is very costly. This cost is hard on my family and draining our income. I have $330,000 invested in the stock market (mostly blue chips), and the dividends earn me about $11,000 annually. My pension, Social Security and investments do not cover my expenses today. I need more income to live on, and my investments must be very safe. My stockbroker suggested a single premium immediate annuity that would give me $1,750 a month, or $21,000 a year, on an investment of $280,000. That would be just perfect. He would have me invest the remaining $50,000 in five high-yielding stocks (names enclosed) paying over 10 percent. I know there are much higher-paying stocks, but I don’t know which ones are good and safe. My daughter suggested I write you for recommendations because you would know some good, safe stocks paying 10 percent or more. Please answer as quickly as you can. We’re nervous and hanging in libido waiting for your answer.