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  #1421  
Old 04-04-2017, 07:11 PM
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Arthur Itas Arthur Itas is offline
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It sounds like Dad has steady, reliable cash flow that's more than what he needs. He can afford to take some risk with the extra money. I don't know that I would pick gold, but I see no reason why he shouldn't put that money to work somewhere. If I could call the timing of when to get into gold or stocks, I'd quit my day job. I worry less about timing and more about general philosophy.
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  #1422  
Old 04-04-2017, 07:17 PM
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Because silver is harder to mine from asteroids?
It is! I never thought about that.
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  #1423  
Old 04-04-2017, 07:17 PM
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Seems like he should spend it on trips and wine and fun stuff.
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  #1424  
Old 04-04-2017, 07:28 PM
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Seems like he should spend it on trips and wine and fun stuff.
I agree. He does not. You can take the kid out of the Depression but you can't take the Depression out of the kid.
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  #1425  
Old 04-04-2017, 09:49 PM
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Not sure about the legality of it, but is one advantage of gold/cash/metals is that it stays off the grid from future Medicaid calculations should he ever need long term care? Maybe not an issue if his pensions/SS are enough to cover the cost he may never need it..etc.

I hadn't considered this until an extended family member had to go to a nursing home. The kids were cleaning the house before selling it and found around 100k in cash stashed in different spots (imagine some money wasn't found). I think legally it should have been used to pay for his nursing home but I think he ended up on Medicaid. Also could have been stolen or burnt up in a fire (safe box much more reasonable).


Instead of cash, I assume he would be ok with FDIC insured CD's? 2.3% for 5yr, cheap early withdrawal options should rates spike.

Foreign stocks look cheaper than US.

I'm not a good person, I have a genetic defect that almost always thinks stuff is overvalued unless there are super obvious reasons why something is selling at a discount (large CEF discount on NAV for example).
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  #1426  
Old 04-05-2017, 01:01 PM
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I think legally it should have been used to pay for his nursing home but I think he ended up on Medicaid.
That's definitely the case, and is why some older people like cash/gold/etc.

Not really an issue for my dad - I think he could pay for LTC out of cash flow, and certainly has assets to cover whatever should be necessary.

lol a skepticism as a genetic defect.
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  #1427  
Old 04-05-2017, 01:35 PM
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I agree. He does not. You can take the kid out of the Depression but you can't take the Depression out of the kid.
They have a different mentality, that is for sure. My grandma was the same way.
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  #1428  
Old 04-05-2017, 03:22 PM
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lol a skepticism as a genetic defect.
I think your dad still owes me one for helping convince you to convince him to dump his Wells Fargo stock near the lows.
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  #1429  
Old 08-04-2017, 07:38 PM
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