u/Holiday-Drive8592

Hi my parents recently sold their house to downgrade to a smaller one in preparation for retirement. Both at 65 years old and not much other liquid assets. My sibling and I are both working and will not need their financial support. We do not have any other debt and our monthly expenses is about 6.5k a month

The situation

1. 4 mil in cash proceeds after selling our house. We will need to find a new house for own stay.
2. Dad has 20k in RA and mum has 200k in RA
3. Negligible cash and other assets

What I was thinking of doing

1. Top up both of their RA To ERS of 440k, CPF life standard plan, so they can get CPF life payout of about 2.2k a month each
2. For the reminding about if money (4mil - 660k =3.34mil) we have 2 options:
3. Either
4. Get a hdb and use the remaining money to get a new condo and rent out for rental income ( using my sibling’s name)
5. Get a condo that has investment potential and give up second property to just invest the money.

Questions

1. I am coming to understand that after CPF life payouts start the interest will actually be pooled for non basic plan which means essentially they are not making anything on their ERS sum unless they live beyond the amount paid out to them. This I am not sure if topping up their cpf is the best choice or if I should choose the basic instead of standard plan.
2. Even after we purchase our own stay apartment we will still have lots of cash remaining. Ideally we can invest this in different assets to generate passive income and preserve wealth. What possible instruments are there other than property should we consider to minimally beat inflation?

Appreciate all your inputs!