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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Question Date:  7/8/2020  9:39 PM
Author:  RichardRLJ Number:  312877 of 312938

This is a real problem for many of us. My wife and I recently inherited a little from her mother's estate, and it had been poorly managed by some supposedly good investment advisors. Her late husband's O G & E stock was the best investment they had because she wouldn't let them sell it.

I try to invest in things that should be good investments for years to come, but changes may need to be made over the years. Blue Chips like the A T & T (T) stock I inherited from my Grandfather's long term purchases he made 60 years ago are hard to find now, and probably can't be trusted to last the next 60 years.

First is to have a will and a good executor (or executrix) to do what you want done. If you already have funds either already managed or ready to be managed by some one or some organization you can trust to invest for your direction for maximum long term benefit.

Setting up a Trust or fund that is managed and will continue to be managed like you direct is a good move. Motley Fool methods are the best I have found, but I don't know who manages funds by their principles. There are many Index funds that might be potential candidates for part of a safe portfolio for the long term. I do not own any ETFs, as I Foolishly think I can do better. If you can set the trust up while you are here to direct them to administer it according to your wishes and set up some longer term guiding principles, that might help.

I have not finished solving this problem for myself, so I'll be looking at further advice here, also.

Do not be inordinately afraid of COVID, because fear causes stress which is really not good for us.

God Bless you and yours, and have a great life!

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