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I looked at the front page of her year-end investment statement since it was sitting out, and it had the totals for the month, for the quarter, and since inception (Jan 2014), with the net investment gain or loss % for each. Her advisor left that firm and she just went with him to the new firm, so as of mid-Jan her investments were moved to the new firm. I didn't have time to dig in to the details due to other commitments, but I will be looking at what he has her invested in.
God my mother is the same way. She thinks she has to have a CPA do her taxes because she has a pension and some investments and when I tell her I'll do it with software she screams. The CPA charges her $250 and jerked her around so much she had to file an extension last year.
Now that they moved 40 miles away I finally had to put my foot down and told her that if you want to use them you can drive there. Don't bother me with it, I'm not enabling or participating in stupid.
If she is elderly she wants a conservative investment. Stocks are generally the exact opposite of that. Bonds aren't a good idea either with interest rates having really nowhere to go but up. There aren't many good options for conservative investors.
The OP has not confirmed that his mother wants 100% completely safe deposit-like products or results.
OP - have a discussion with your mother to find out her goals in very simple laymen terms to ascertain if she would be willing to take some level of risk with even a portion of her investments and work from there. If she doesn't want you to handle it there are still many options that are relatively cheap and could get her far better results. No need to go to either extreme on this - just find out what she REALLY wants.
Better yet, find out what she actually NEEDS based on how much money she has left and expected expenses, lifespan, etc. Do her needs match up with assets and current growth?
I looked at the front page of her year-end investment statement since it was sitting out, and it had the totals for the month, for the quarter, and since inception (Jan 2014), with the net investment gain or loss % for each. Her advisor left that firm and she just went with him to the new firm, so as of mid-Jan her investments were moved to the new firm. I didn't have time to dig in to the details due to other commitments, but I will be looking at what he has her invested in.
So she made nearly 4% in a quarter but your orginal post said less than 2% over the course of years? Seems a bit disjointed honestly
The OP has not confirmed that his mother wants 100% completely safe deposit-like products or results.
If you are 70 years old and relying on your savings, it is a generally safe assumption that they can't tolerate too much risk with their savings. If you are 36 and working like myself you have a lot of time to ride the ups and downs of the stock market.
God my mother is the same way. She thinks she has to have a CPA do her taxes because she has a pension and some investments and when I tell her I'll do it with software she screams. The CPA charges her $250 and jerked her around so much she had to file an extension last year.
Now that they moved 40 miles away I finally had to put my foot down and told her that if you want to use them you can drive there. Don't bother me with it, I'm not enabling or participating in stupid.
And is 250.00 life altering? If it's not and it brings your mother comfort you should lighten up. I pay more for TurboTax when I could fill in the forms myself
Last quarter of 2016 her portfolio earned 3.94%. A lot of people earned over 10%, as you know, with the runup after the election.
Her *overall* investment performance since she went with this advisor/firm, which began in Jan 2014 (3 yrs ago), was 1.47%.
My mother wants safe investments. She doesn't know much else. The agreement with her advisor when we all first met in 2014 was a 4% return was realistic and conservative, though I emphasized that 4% should be after management fees. After that it was up to her advisor.
For the 3 year period ending 12/31/2016, her portfolio in total net earnings was 1.47%. I don't know how to make that clearer.
And is 250.00 life altering? If it's not and it brings your mother comfort you should lighten up. I pay more for TurboTax when I could fill in the forms myself
It is not so much the $250
Now they are 40 miles away and she expects me to drive her there, they messed around with her last year because she was a low priority compared to people with small businesses they service that they made a nervous wreck out of her and me and I had to file an extension.
We are not paying $250, driving 40 miles each way, only to get poor service when their are thousands of tax professionals in the Chicago area.
Last quarter of 2016 her portfolio earned 3.94%. A lot of people earned over 10%, as you know, with the runup after the election.
Other people's returns are not a relevant point of reference
Quote:
Her *overall* investment performance since she went with this advisor/firm, which began in Jan 2014 (3 yrs ago), was 1.47%.
My mother wants safe investments. She doesn't know much else. The agreement with her advisor when we all first met in 2014 was a 4% return was realistic and conservative, though I emphasized that 4% should be after management fees. After that it was up to her advisor.
For the 3 year period ending 12/31/2016, her portfolio in total net earnings was 1.47%. I don't know how to make that clearer.
Is the 1.47% net earnings printed on the statement as change in portfolio value since inception?
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