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Turning a corner

August 2nd, 2009 at 05:02 pm

Wow. My parents just stopped by to specifically ask me about retirement investing. I couldn't believe it, especially from my dad. He's never done that before, so he must be serious. He's been really disgusted with the way his Citigroup stock has performed so far.

He's even out-right stated that he's not really interested in researching stocks and keeping up with the market, so he's looking for something maintenance-free. I immediately steered them towards Vanguard's index funds. I really do think that it will suit them the best.

I wrote down some contact numbers for them so they can get their ID and password from their old investment company, along with Vanguard's contact numbers to do the fund transfers. They said they'll take care of it tomorrow.

I really feel good about all this. It's not just the fact that I've been worried about my parents' retirement nest eggs, but the fact that they're actually listening to me! Wow! You have to understand that, even though I am their son, my advice is essentially flying against the face of everything else that my dad's friends and even his brother (my uncle) has told them. So, for him to actually go with my idea... well, it's an amazing compliment. Of course, it also "helps" that they've already lost a substantial amount after listening to them....

But wow, yeah! My parents are moving (part of) their nest egg to Vanguard! Woohoo!

5 Responses to “Turning a corner”

  1. ralph Says:

    Congrats! A little role reversal, I see. Big Grin Unfortunately my parents also didn't do much in the way of educating me on money matters.

  2. creditcardfree Says:

    Great news!

  3. frugaltexan75 Says:

    Awesome! Smile

  4. Ima saver Says:

    That is great, I am glad they are finally asking you for advice!

  5. HouseHopeful Says:

    Thats great news!

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