Happy Mother's Financial Day!!

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
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rakamaka
Posts: 161
Joined: Tue Feb 28, 2012 1:32 pm

Happy Mother's Financial Day!!

Post by rakamaka »

Happy Mother's Day !
As we know some parents maybe less savvy financially. I would like to know thoughts of BHs, what they should have done in the past or will do in future to make mom or dad more aware of complexities of financial world.
--i wish mom could have stayed away from that friendly annuity salesperson
--make sure mom dont get flowers and cards from friendly high fee fund advisor
--make mom aware of streaming tv, netflix etc and unplug cable(difficult one)
--wish i could have arranged her loan 'before' stepping into door of car dealer..
and many more thoughts from BHs
Thanks
--
Professor Emeritus
Posts: 2628
Joined: Mon Aug 13, 2012 6:43 am

Re: Happy Mother's Financial Day!!

Post by Professor Emeritus »

I have ultra simplified our investments so that if anything happens to me My kids can spend their time giving their mother love and affection and do not have to worry about financial administration. Setting that up is why we transferred key assets out of Vanguard. They just didn't get it.
shawcroft
Posts: 929
Joined: Sun Feb 24, 2008 3:18 pm
Location: Connecticut

Re: Happy Mother's Financial Day!!

Post by shawcroft »

Professor Emeritus wrote: Setting that up is why we transferred key assets out of Vanguard. They just didn't get it.
Professor: Please "s'plain" (to quote Ricky Ricardo)

I do not follow your comment.

Shawcroft
Professor Emeritus
Posts: 2628
Joined: Mon Aug 13, 2012 6:43 am

Re: Happy Mother's Financial Day!!

Post by Professor Emeritus »

shawcroft wrote:
Professor Emeritus wrote: Setting that up is why we transferred key assets out of Vanguard. They just didn't get it.
Professor: Please "s'plain" (to quote Ricky Ricardo)

I do not follow your comment.

Shawcroft
my wife is disabled. I hold her Durable POA with our daughters as secondary agents. Vanguard is incredibly hostile to durable POAs. (several threads on this) Fidelity had no problems whatever with the POA , and neither did the TSP. Despite claims , the Vanguard agency form is not the same thing as a broad based POA.

Durable POAs are a centerpiece of elder planning. I am still a vanguard flagship customer but my wife was correctly furious at Vanguard's comments and dismissive attitude.
shawcroft
Posts: 929
Joined: Sun Feb 24, 2008 3:18 pm
Location: Connecticut

Happy Mother's Financial Day!!

Post by shawcroft »

Professor:
Thank you for your message briefly outlining the highly consequential matter of family concern. I hope you have been able to simplify the financial administration of key matters on behalf of your family.
Regards,
Shawcroft
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