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Author: CervantesVive Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75402  
Subject: where to educate myself on this Date: 2/4/2001 12:38 PM
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hello,

i am far, far from retiring age but need to educate myself for someone elses behalf.

my dad was let go about a year ago, he's 63. he's also from a foreign country and lives there still.

he had lived like a king on $3k a month. he has lived most of his life spending his paycheck. but he's also bought real estate and put stuff away in his savings.

in short, he has no income anymore. but has about $200k as well as properties. more than enough i would think to live out his final years in comfort.

instead since he has no income, hes decided to let his saved money generate income. and in the process hes lost about 1/2. he had over $500k a year and a half ago.

he's a bit older and knows nothing about investing. neither do i but at this rate, in another year he'll be in the poor house. something must be done.

he stuck his money in a bank which promised 24% return. i thought this was a big promise. the bank went under and he lost a bunch.

now he has his stuff in a bank in the cayman islands where his money is playin the nyse. he won't give details as it is his business, he says. i smell a problem tho.

i am educating myself so i can approach him with a coherent plan, where he can maybe place his money in a low risk account where he can withdraw a modest sum for living expenses. that way he wont end up poor and actually enjoying his life rather than getting ulcers from seeing his hard earned balance dwindle.

where can I start my education? any tips of which direction i should investigate?

i'm a fast learner and need to fast trak this.

thanks,

cv
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