Should Peter put most of his 88-year-old dad’s money into a fixed-income fund?

Q. My dad recently moved into assisted living and is about to sell his paid-off house. He has a long-term care plan and a generous company pension, so for now he will have about half a million dollars and growing at age 88. He’s in fairly good health, other than his body failing. I have power of attorney. Dad doesn’t need the money now, but if something goes sideways, he might at some point.

I’m...