Honestly... If I were you, I’d refuse to give that kind of advice and insist that they’re throwing their money away and that an investment like that would be doing them a disservice. Since you mentioned a decades-long investment horizon, I’d try to make it clear to them what they’re doing to themselves. I strongly suspect they’ve worked very hard and for a long time to achieve this, and I’d make it clear to them that they’re devaluing that hard work. At least, that’s what I did with my parents. Interestingly, that situation also involved 1,000,000. It took quite a few conversations and a lot of patience before they finally invested at least a portion in silver, gold, and ETFs. So this might also be an option—albeit one that requires some perseverance.
•
11
•
3D
@FinanzMechaNikk Mio Cash isn't my entire fortune. There's still a little diversification. But yeah, it really does hurt to see the money go up in smoke like that. But what can I do? I won't be able to convince her of anything. I tried once—it just caused trouble. 🤷
••
@Epi Okay, so it’s not quite that bad after all.
Of course, you have to carefully weigh whether it makes sense to disrupt the peace. My parents are very stubborn. So I’d just mention the profits every now and then and give subtle examples of calculations, but always in relation to myself.
Eventually, they took the bait and actually made some pretty good returns with silver. Since then, they haven’t been so opposed to it and can see the benefits, too.
But as I said… you have to carefully weigh whether you can and want to have these discussions. Especially since, if things don’t go well, you’ll end up being held emotionally responsible 😅
Of course, you have to carefully weigh whether it makes sense to disrupt the peace. My parents are very stubborn. So I’d just mention the profits every now and then and give subtle examples of calculations, but always in relation to myself.
Eventually, they took the bait and actually made some pretty good returns with silver. Since then, they haven’t been so opposed to it and can see the benefits, too.
But as I said… you have to carefully weigh whether you can and want to have these discussions. Especially since, if things don’t go well, you’ll end up being held emotionally responsible 😅
•
11
•3D
@FinanzMechaNikk Tell me, do people automatically end up with bowlegs as they get older?
Will that happen to us, too? 🥶
Will that happen to us, too? 🥶
•
11
•@Epi Category: Trivia: The medical term for this is “rigidity” (stubbornness of old age). I think @DonkeyInvestor already has it. @Dividendenopi, on the other hand, still seems quite friendly and cooperative. So it doesn’t have to happen to everyone!
•
22
•3D
@FinanzMechaNikk What a lucky break!
But he'll surely deny that the donkey is bow-legged.
But he'll surely deny that the donkey is bow-legged.
•
11
•@Epi Yeah, and donkeys are, after all, stubborn and obstinate by nature. You just don't know if this is already the final stage or just an ominous glimpse into the future.
•
22
•
@FinanzMechaNikk @Epi My goat legs are about to catapult you to the moon
•
33
•@DonkeyInvestor With Elon's "rocket Tesla" or by sheer stubborn donkey power?
•
11
•@FinanzMechaNikk Pure Donkey Power
••