Help for My 94 Year Old Aunt

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dbc47
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Joined: Thu Mar 01, 2007 10:02 am

Help for My 94 Year Old Aunt

Post by dbc47 »

My Aunt is in a rest home and is still doing fairly well. I'm able to visit her and when I do she always presses me about what she should do with her money. She knows I'm no expert, but wants to know what I think about stuff. She showed me a statement which turns out that she has all her investments at Vanguard. She apparently has no stocks. I told her I'd look it over and get back to her.
Here is her breakdown of her entire portfolio:

Short Term Tax Exempt (VWSUX): 22%
Limited Term Tax Exempt (VMLUX): 19%
Total Bond Market (VBTLX): 48%
Prime Money Market: 11%

My only thought was to perhaps take some money and put in a CD?
ieee488
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Re: Help for My 94 Year Old Aunt

Post by ieee488 »

How is the cost of rest home being paid for?
If she doesn't need money from her Vanguard accounts, then maybe you don't need to do anything.
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dbc47
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Re: Help for My 94 Year Old Aunt

Post by dbc47 »

I was just thinking that I forgot to include that information :oops: . Anyway, she has enough monthly income coming in that is more than enough to pay for the rest home. She has had these funds for years and has never withdrawn from them. She just reinvests the monthly dividends each month.
Wonder what else I forgot to mention? :|
billern
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Re: Help for My 94 Year Old Aunt

Post by billern »

dbc47 wrote:I was just thinking that I forgot to include that information :oops: . Anyway, she has enough monthly income coming in that is more than enough to pay for the rest home. She has had these funds for years and has never withdrawn from them. She just reinvests the monthly dividends each month.
Wonder what else I forgot to mention? :|
At that age, it is more important to think about what she wants to do with the assets when she passes away. Then invest appropriately based upon her plans with what is going to happen with the funds.
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William4u
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Re: Help for My 94 Year Old Aunt

Post by William4u »

Those are predictable, stress-free investments, which might be important to her.
Fallible
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Re: Help for My 94 Year Old Aunt

Post by Fallible »

William4u wrote:Those are predictable, stress-free investments, which might be important to her.
I was thinking the same thing, especially considering her age. However, she does seem to have some concern about the investments or she would not keep asking about them.

OP, do you know why she is pressing you about her money when she apparently has enough? I have known older people in their 80s and 90s who continually express concerns about their money even when they have enough and are generally well invested and there can be medical reasons for this. Have you told her her finances are sufficient and that she need not worry? If so and she still worries, can you pin down her specific concern? If she seems confused, you could check with her doctor, who should know her health history and could advise you.
"Yes, investing is simple. But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense." ~Jack Bogle
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dbc47
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Re: Help for My 94 Year Old Aunt

Post by dbc47 »

Thanks for the feedback. I think she just wants to know, and get reassurance, that everything is OK. She doesn't sound too concerned about things, but I guess she just wanted another opinion. I'll pass along what I've learned and I'm sure that should be sufficient to ease any concerns she may have. She's always done her own thing but every once in awhile she likes to run stuff by me.
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