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Sounds exactly like my mom, a few years ago. Don't worry about your financial planning expertise. If your mom is half as stubborn as mine, getting her to do anything unfamiliar will take some time, and may need to be approached incrementally. With my mom, the first and most critical goal was simply getting her money out of her checking account before it disappeared. I met with one of the customer representatives at her bank, and we worked out a plan to transfer $70,000 to laddered CD's. I lured her into the bank, telling her the banker had asked about her, and together he and I sold her on the CD plan. She liked the idea her money was still in the bank, and she would get a $400 monthly interest check, which she could spend. The next, and more difficult task, was to build Mom's confidence in other investment vehicles. After a few interviews I chose a broker at A.G. Edwards. Mom finally agreed to go when I convinced her they sold FDIC insured CD's there. Mom opened an account consisting of another $70,000 laddered CD's (don't laugh, this was a major accomplishment)and $10,000 in a MMF. She agreed to deposit the CD interest into the MMF. The broker and I worked out a sound financial plan for Mom, to be implemented gradually as her CD's matured. He and Mom became good friends, trust bloomed, and soon she was buying bonds, dollar averaging into a mutual fund and enjoying her extra $400 month so much she sort of forgot about spending any of her capital.
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