Message Font: Serif | Sans-Serif
 
No. of Recommendations: 3
So after much hand wringing my parents actually told me what their guy has them invested in. They removed the numbers because they are of the generation that doesn't talk about money. But holy crap. Some of the junk.

One fund was primarily composed of three other funds.

Their "most stable" fund was 93% bonds. Sounds good, right? Their ratings? BBB, BB and B. I don't know much about bonds but I know A is better than B.

Another fund they are paying management fees for is over 20% cash. I'm actually a fan of that holding now but still...

Their best 1-yr return was 3.53%. The rest were under 0.50% and most were negative. This is for people in their 70s whose primary concern is stability and capital preservation.

They are meeting with him today and my advice is to liquidate everything and fire the bum. They can probably do better with GICs.

Simon
Print the post  

Announcements

The Great Foolish North
Canadian social and off-topic banter.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.