So was talking to my dad the other day who is nearing retirement age. Guy has been working for a few decades and never really did anything for himself which undoubtedly stems from his immigrant mentality and coming to the country with $200 in his pocket 35 years ago.
Long story short, guy has worked hard and saved more than enough financially to retire. he also has a professor's pension, combined with SS will give him well over $100k a year which is over 2x more than their current expenses.
I know expenses change and unforeseen but they're considering moving to Central America (after I introduced them to scuba diving), or back to Canada because let's face it, the health insurance expenses in the US is horrid. I just don't see them being faced with any serious expense in the future that they can't pay for (could be wrong).
Question is, what would you do with $2m of liquid assets if you don't really need to use it? He doesn't know much about markets and investing. His financial advisor keeps telling me to shift to bonds and CDs as he approaches his retirement. I think is a bit ridiculous but they probably need to abide from some script. Personally, I think he should keep that money invested in the markets; I'd pick tech myself. But I wanted to get opinions from others more experienced than myself in the matter!
Long story short, guy has worked hard and saved more than enough financially to retire. he also has a professor's pension, combined with SS will give him well over $100k a year which is over 2x more than their current expenses.
I know expenses change and unforeseen but they're considering moving to Central America (after I introduced them to scuba diving), or back to Canada because let's face it, the health insurance expenses in the US is horrid. I just don't see them being faced with any serious expense in the future that they can't pay for (could be wrong).
Question is, what would you do with $2m of liquid assets if you don't really need to use it? He doesn't know much about markets and investing. His financial advisor keeps telling me to shift to bonds and CDs as he approaches his retirement. I think is a bit ridiculous but they probably need to abide from some script. Personally, I think he should keep that money invested in the markets; I'd pick tech myself. But I wanted to get opinions from others more experienced than myself in the matter!
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