Prepped financial planning

[Robinjopo1]

If you notice, there are lots of senior citizen tour busses at the casinos. It' something they can do that isn't strenuous.

They are able to wheel themselves or their oxygen tank in and they are set with some entertainment for a few hours.

They are probably bored at home.

 

[Robinjopo1]

UPDATE. Mom is supposed to pick up the check today. Thank goodness this mess is over, but it brings much more into question.

This growing old sucks.

 

[DrPrepper]

If you notice, there are lots of senior citizen tour busses at the casinos. It' something they can do that isn't strenuous.

They are able to wheel themselves or their oxygen tank in and they are set with some entertainment for a few hours.

They are probably bored at home.

Yes, my in laws sit there for hours dumping quarters into a machine, pressing a button, watching lights go round and round with some jingle music...because to them, “it’s fun” I can’t wrap my brain around the fact that I just lost a quarter in 4 seconds flat

 

[Robinjopo1]

Yes, my in laws sit there for hours dumping quarters into a machine, pressing a button, watching lights go round and round with some jingle music...because to them, “it’s fun” I can’t wrap my brain around the fact that I just lost a quarter in 4 seconds flat

The few times I have played the slots, after I lose $20, I'm too guilty to play more. Seems like just a waste of time and money.

 

[Brent S]

I’ve always felt that I worked too hard for my money to give it away like that.

 

[Robinjopo1]

You would think that after you saved someone $30k they would at least say thank you or admit that they had acted hastily.

Well, not my mom. It's amazing. Pride.

 

[Proud Prepper]

You would think that after you saved someone $30k they would at least say thank you or admit that they had acted hastily.

Well, not my mom. It's amazing. Pride.

Pride is one of the 7 deadly sins...

 

[Arcticdude]

There's a good lesson in all this; stay away from annuities and casinos! There are countless investments available that are safe and provide a reasonable rate of return. A slick salesman can make an annuity sound good to the inexperienced investor. Bottom line; buyer beware. And research!

 

[Brent S]

You would think that after you saved someone $30k they would at least say thank you or admit that they had acted hastily.

Well, not my mom. It's amazing. Pride.

I’m so glad you got this resolved. Selling an annuity to a person that elderly should be illegal, and probably is. Did you get the fees back from the scum?

 

[Robinjopo1]

I’m so glad you got this resolved. Selling an annuity to a person that elderly should be illegal, and probably is. Did you get the fees back from the scum?

Got the certified check returned.

 

[Robinjopo1]

Mom actually mentioned to my brother that he needed to call the agent and apologize for his attitude.

 

[Robinjopo1]

Pride is one of the 7 deadly sins...

I was going to post that I believe Pride is one of the worst, but knew how most on this board feel about religion.

 

[Robinjopo1]

She is moving some of her money to Tennessee and I'm going to ask her if we can at least get the type that requires double signatures over a certain amount.

 

[Brent S]

I am reading about more and more financial advisers are saying we are likely heading into higher inflation and food costs and that getting your financial affairs in order is wise. Primarily by working to get out of debt. I know no one has a crystal ball to predict exactly what will happen in the future, but it is good advice all the time anyways.

 

[Robinjopo1]

Hope this isnt a double post.

I've got a new tale today.

Mom asked my brother if he would put something in his safe. She pulls out bundles of $100 bills. She had $10,000 in her underwear drawer.

In case she died or had a stroke, we would not have had a clue. This is getting scarier by the day.

If I posted this before, I apologize. My mind is spinning. Need some valium . Lol

 

[Brent S]

Hope this isnt a double post.

I've got a new tale today.

Mom asked my brother if he would put something in his safe. She pulls out bundles of $100 bills. She had $10,000 in her underwear drawer.

In case she died or had a stroke, we would not have had a clue. This is getting scarier by the day.

If I posted this before, I apologize. My mind is spinning. Need some valium . Lol

At least she has the two of you to look after her. Being alone in your last years isn’t good.

 

[Arcticdude]

I am reading about more and more financial advisers are saying we are likely heading into higher inflation and food costs and that getting your financial affairs in order is wise. Primarily by working to get out of debt. I know no one has a crystal ball to predict exactly what will happen in the future, but it is good advice all the time anyways.

We have been experiencing higher inflation and food costs for years. Look at the price of fuel and your grocery receipts compaired to 1, 5, 10, 20 years ago. The financial "experts" have a way of manipulating the numbers to make the rising inflation look less than it really is.
If you look at an inflation chart from the 1700's to today, you would see virtually zero inflation, except for a few small blips, until about the time we went off the gold standard.
It's almost guaranteed that we will see a financial crisis in the future. Just look at the past. Nobody knows for sure when a crisis will hit. Just be prepared for it when it does.
I agree 100% to get out of debt, and stay out. I view debt like gambling. Never borrow, or gamble, unless you have the cash put away to cover your losses/debts.

 

[DrPrepper]

I am reading about more and more financial advisers are saying we are likely heading into higher inflation and food costs and that getting your financial affairs in order is wise. Primarily by working to get out of debt. I know no one has a crystal ball to predict exactly what will happen in the future, but it is good advice all the time anyways.

Gas prices sure are going up.
What time line do the advisors give for the increase? I do my best to stay out of debt, but if there were to be an increase, it would be harder for sure. We have had major tax increase due to all the Californians moving here.

 

[Brent S]

Gas prices sure are going up.
What time line do the advisors give for the increase? I do my best to stay out of debt, but if there were to be an increase, it would be harder for sure. We have had major tax increase due to all the Californians moving here.

I didn’t read anything specific on a time, but the consensus was prices of most things were going up. If it was just luxury items then it wouldn’t bother me, but when they are talking about food, clothes and basic necessities it will be harder for most people. Couple this thought with the survey that the vast majority of Americans can’t handle a 400.00 emergency and it’s kind of scary.

 

[Robinjopo1]

Update: Got mom back down here when the $$$.

Opened her an account here and everyone is happy.

Funny part: we were talking about money and she actually said "Robin, when it comes to money, I know what I'm doing". I almost fell out of my chair. Last week she was giving away $30k. Yeah, she's on top of it