Looking to invest some of an elderly parent's savings. I've avoided the stock market as it seems to be in a bubble, but maybe I'm wrong about that. Otherwise I'd just buy an index fund. Such strange times I don't know what to do.
Let's say it's not funds we're going to need real soon but probably not looking for high risk/aggressive growth investments either. I just hate to let it sit doing nothing.
Bonds?
A CD would suck but better than the 0.001% in the checking account.
Yeah, I know you guys aren't investment advisors. Just wondering what your opinion might be. I should get a pro for my own stuff, not to mention theirs. But since I haven't done that yet...I know some of you are doing the same things.
No politics please, just finances.
Ok toxcrusadr, what has been working for me since mid Oct. 2007 after my father passed away, and his estate was being settled.
My sisters & I each received 1/3rd of his stock portfolio, which had to be cashed out, because it was not able to be evenly divided three ways.
Anyway, my father had not used a financial adviser until the last 10 years of his life, as he was very skilled with numbers & monitored closely the stock market via various methods with very good results.
He eventually secured the services of a Merril Lynch financial adviser, who had his own Merril Lynch group. and has/is/been very successful.
So since I trusted my father`s knowledge in this area, I felt that I should let him(the FA) reinvest in the stock market my cashed out portion of his stock market portfolio, which was ~ $460,000.00, whereas my 2 sister, just put their money in a MM/CD in the bank.
Anyway, I took a "minor hit" (because my portfolio is diversified) in 2008, when the bubble burst, but I was not concerned about it, because this was not my source of income, nor would it ever need to be, as I`m on a medical malpractice lawsuit`s generous annuity for life and do not need to touch it, but let the profit`s reinvest, and yes the stock market has it`s ups & downs, as it always had, but, in my case, but I always end up increasing my portfolio.
So since, out of respect for my father`s, then his chosen FA, carefully managing and growing his stock portfolio, I decided to be a "Steward" for it, because if my father(a very demanding engineer while alive) trusted this guy for ten years, then that was good enough for me, and I just let him(the FA) run it, with my initial guide lines, and found out about 2 years after I engaged his services, that he is well known, and respected by the old money in this area.
He(the FA) takes me out to dinner every quarter to discuss my investment portfolio, make suggestions of adjustments, guide me, and educate me, as I don`t bother to follow/track the market at all, leave him alone to "Do His Voodoo,, that he does so well".
So I guess, this method/FA is working for me
And I don`t know what my silly sisters have made on their "put in the bank portion", but mine as of yesterday`s statement, has grown to over $ 800,000.00 since, so I doubt their monies return has been anywhere near mine.
Possibly consider, doing a lot of research, and maybe talking to a financial adviser.
Just my experience FWIW.
Take care and good luck toxcrusadr.
Kind regards, OKB