Roast my parents’ portfolio

Hello everyone, My parents just recently retired from work and I’m helping them managing a significant amount of money they got after selling the house we used to live in. I will give you some context on their situation: Both in retirement with a good monthly pension 4 rented apartments they still have some liabilities (2 mortgages) giving their current annual income minus the mortgages, they live without any kind of problems and they don‘t need additional income from investments Giving this con