MasterBlaster
Thinks s/he gets paid by the post
- Joined
- Jun 23, 2005
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- 4,391
Well you can't say with certainty, but here is but one example of someone who has been adversely influenced...
suggestions for my risk-averse mom
- Thread starter kevink
- Start date
old woman
Full time employment: Posting here.
- Joined
- Dec 22, 2005
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- 567
My mom is 80 and refuses to consider anything as risky as t-bills. She has about 200K and income including interest of about 30K. With no house payment and low income senior discount on property taxes she lives as well as she wants. She got a new car 3 years ago but should quit driving soon. Her hips hurt she doesn't feel up to going shopping or traveling. If she outlives her money I will give her some. I buy her things she wouldn't waste the money on like a LCD tv when her 19 inch or less old TV wouldn't pay DVDs so she has to use a tiny tv meaning two tvs next to each other. She didn't need a big tv but a 24 in LCD wasn't too big and she could toss the two old analog tvs. Her big financial treat is a new restaurant that has $9 taco salads that are huge, she has gone 3 times already.
Sometimes it isn't about the money, leave her alone to not worry and if she down to eating ramen remember grocery stores have gift certificates and mothers day, her birthday and Christmas are coming.
Sometimes it isn't about the money, leave her alone to not worry and if she down to eating ramen remember grocery stores have gift certificates and mothers day, her birthday and Christmas are coming.
Moemg
Gone but not forgotten
My Mom is 91 and really conservative (CD's ) .I hope at that age (if I get to it ) I'm going to Vegas and putting a bundle on red .
Independent
Thinks s/he gets paid by the post
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- Oct 28, 2006
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- 4,629
I may have missed it, but I don't think anyone has said this:
If she's spending all the "interest", then she really is "spending principle".
Her principle is going down at the rate of inflation.
My mother was in a CD ladder after my dad died. She spent all the interest. Inflation ate up some of the principle (she outlived him by 20 years). Her real spending went down as her health declined. She never worried about the market. I think it worked out fine for her.
If she's spending all the "interest", then she really is "spending principle".
Her principle is going down at the rate of inflation.
My mother was in a CD ladder after my dad died. She spent all the interest. Inflation ate up some of the principle (she outlived him by 20 years). Her real spending went down as her health declined. She never worried about the market. I think it worked out fine for her.
haha
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Yeah, I think we are mostly aware of this also. But maybe better to "go down with inflation" than to go down in flames.
Ha
