MBAVisionary
Recycles dryer sheets
There are many roads leading to Rome. Your parents are successful in their own way. If you manage to push them into an uncomfortable position (say owning significant buckets of equities), then when the market crashes (as it will at some point), they will be in hell. If I were you, I would leave them in their heaven (now) and be proud of them instead of changing their thinking. Listen to them as they are telling you they sleep better with their current portfolio. That is priceless IMO.
Well said. I don't pressure them to do anything they don't understand. I sometimes get told how this whole life insurance product they bought 30 years ago is still a good investment today. I politely disagree, show them the S&P average return rates since 1990, and we move on. Also have had a few discussions about how the friend / relative selling them some new way to invest is just out to make a quick buck. Once I show all the evidence on how it's a scam and reviews of frustrated customers they usually thank me and are disappointed in the person who tried to rip them off to begin with. It's worked about 5 times the past 20 years. I steered them away from crypto when everyone was talking about all the money they made with it.
I'm proud especially when I look back at all they've been through over the years. They didn't make excuses or give up when life challenged them. A lot of others would've used some of the situations as a reason to stop working and go on govt assistance.