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I’m not even sure where to begin. I realize that this is a good “problem” to have, but I’m still unsure how to proceed. In addition she has some timeshares but doesn’t know how many. It is very confusing.

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I use Schwab to manage my mother's finances. They've been spectacularly helpful. My dad had been with them for years before he died, and he went with me when he was diagnosed with terminal cancer and "handed" me off to them along with their finances. They've always been right there for me.
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Your profile says "living in independent living". Or did you mean she is living independently.

I don't understand why she would refinance her home at the age of 83 unless she needed the money to live. But ur saying she has no idea how to use it? Please explain.😊
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Just be aware how much you are paying your financial salesperson:

https://www.marketwatch.com/story/is-your-financial-adviser-in-the-hidden-fee-hall-of-shame-2017-11-16
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We have also used a financial advisor. We use the same company my father used for years and years.

I also have a thrift savings plan at the post office. I have it in the L2025 funds where they do all the investing in the stock market for you.

Don’t be afraid to use a financial advisor. They can help you.
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Margaret, I had to look up "on the nose":

slang, Australia) Smelly, malodorous; often used figuratively.

That bucket of raw prawns you left in the sun is a bit on the nose.
adjective

Meaning that times shares are a poor investment, right? I would agree.

Pumpkin, I think that your main objective should be making sure that you have Durable financial power of attorney AND whatever forms mom's banks and other financial institutions need for you to manage

And

Keeping her away from unscrupulous financial salespeople who might try to sell her products like annuities or whole life insurance (products which may not be appropriate for her situation, but which provide a good upfront payoff to the salesperson).

The fact that she has timeshares would seem to indicate that she isn't very astute.
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I may be getting it wrong, but she ‘re-financed her home’ sounds to me like she took out a different loan or mortgage. If this is right, then what to do with the extra money coming in isn’t the real problem. Around here, time shares are very much on the nose, and may be worth very little. Be very careful, get advice on care costs and medicaid.
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I've used Ameriprise for years and have paid very low fees, NEVER 1% of my folks' assets! Not everybody wants to do their own financial planning by following an online guide. To each their own, which is why there are lots of different avenues available for investing.
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Thank you so much!
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Please Do NOT go to a for profit financial planner like those posted.

Ask your question on Bogleheads and follow their advice. A simple 3 fund portfolio and an asset allocation that suits your mom's stage of life and her risk tolerance at Vanguard, Schwab or Fidelity is all she needs. Do not go to an advisor who wants 1% or more of her assets per year in addition to high Expense Ratio funds
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Www.bogleheads.org
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Call a financial planner at a company like Ameriprise or Edward Jones & ask for assistance; that's your best bet.
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