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I'm visiting my elderly mother and took a look at her investment statement up through 12/31/2016. In 3 years she only made 1.47% net growth on her investments. The investment fee is 1% (or maybe slightly more).
I'm upset because she's throwing money away.
She wants me to make a list of questions for her investment guy (who I know and have spoken to when she was first meeting with him). The thing is, I don't have questions as much as I think he/his firm should be fired ASAP. That amount of growth is unacceptable, IMO. For goodness sakes, a 3 to 5 year CD would have earned more for her over the same period of time.
Mom is convinced she must have an investment person and she doesn't trust me (even though my own portfolio of index and mutual funds has grown over 10% in that same period of time).
Would she be willing to have you look into Vanguard and Fidelity funds.
I just looked at the paper I got said 12.7 percent for the year.
Yes, my Credit union savings is also around that. Would she invest in div paying stocks for income.
As we know stocks also go down- Maybe the person wants her income safe also.
My Fidelity and Vanguard are both in an ira and 401K.
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.
I'm visiting my elderly mother and took a look at her investment statement up through 12/31/2016. In 3 years she only made 1.47% net growth on her investments. The investment fee is 1% (or maybe slightly more).
I'm upset because she's throwing money away.
She wants me to make a list of questions for her investment guy (who I know and have spoken to when she was first meeting with him). The thing is, I don't have questions as much as I think he/his firm should be fired ASAP. That amount of growth is unacceptable, IMO. For goodness sakes, a 3 to 5 year CD would have earned more for her over the same period of time.
Mom is convinced she must have an investment person and she doesn't trust me (even though my own portfolio of index and mutual funds has grown over 10% in that same period of time).
<deep breaths>
Is she elderly, if so in some states it might be considered taking advantage of the elderly, you might wish to contact the manager and if he does not have a very good reason, then contact the DA's office to find out if there is anything they could do.
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.
I did keep VZ, dis, txn and t outside a 401k and just allow the dividend to be there if needed.
I now am also at the point I need to do the RMD so did the first and the pain was not as bad as I thought.
Bonds I only did savings bond from work and cashed them out for stocks to buy.
Vanguard does have funds for people who don't wish risk as Fidelity-
It comes down to how will I sleep at night and do I need the money soon.
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