Row 15157

Row ID: 15157 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 15157 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

I would probably just leave it in the HYSA. Maybe, just MAYBE, I would consider setting up a meeting with a financial advisor, and letting them invest the money (but it sounds like your parents aren’t willing to have a meeting, and they aren’t willing to have money tied up in any investment vehicle).

Now understand the that both suggestions above aren’t the best investments you could be making. But here is the tough truth of it…

Your parents are terrible with finances. They are going to spend that 80k, and 80k isn’t enough to make a big difference in retirement anyway as it might amount to a few grand per year. Your parents sound impulsive, and the type that are both skeptical of investing and don’t listen to anyone else. 100% they withdrawal they money at a loss the first time the market drops, and then they blame you and/or the financial advisor when it was really their own fault. This only ends badly. They are going to work until they are old, and live off social security. It just is what it is. HYSA (or maybe a money market which is very similar) are the only way for them to really guarantee no loss and have immediate access to the money. They are still a good deal at around 5% but that won’t last. My guess is the money won’t last either so 🤷‍♂️

FieldValue
text I would probably just leave it in the HYSA. Maybe, just MAYBE, I would consider setting up a meeting with a financial advisor, and letting them invest the money (but it sounds like your parents aren’t willing to have a meeting, and they aren’t willing to have money tied up in any investment vehicle). Now understand the that both suggestions above aren’t the best investments you could be making. But here is the tough truth of it… Your parents are terrible with finances. They are going to spen…
label r/investing
dataType comment
communityName r/investing
datetime 2024-05-20
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Raw Record

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  "text": "I would probably just leave it in the HYSA. Maybe, just MAYBE, I would consider setting up a meeting with a financial advisor, and letting them invest the money (but it sounds like your parents aren’t willing to have a meeting, and they aren’t willing to have money tied up in any investment vehicle). \n\nNow understand the that both suggestions above aren’t the best investments you could be making. But here is the tough truth of it… \n\nYour parents are terrible with finances. They are going to spend that 80k, and 80k isn’t enough to make a big difference in retirement anyway as it might amount to a few grand per year. Your parents sound impulsive, and the type that are both skeptical of investing and don’t listen to anyone else. 100% they withdrawal they money at a loss the first time the market drops, and then they blame you and/or the financial advisor when it was really their own fault. This only ends badly. They are going to work until they are old, and live off social security. It just is what it is. HYSA (or maybe a money market which is very similar) are the only way for them to really guarantee no loss and have immediate access to the money. They are still a good deal at around 5% but that won’t last. My guess is the money won’t last either so 🤷‍♂️",
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  "dataType": "comment",
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  "datetime": "2024-05-20",
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