jj4465
Member
Cash: $ 3.55
Posts: 15
Joined: 27 Dec 2004
Location: Nebraska
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| investments for retirees |
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another question for my parents....as I said in a previous post, my parents want to get a bigger return on their money. Are there anything things that are good to invest in? such as real estate? My dad likes to buy cars and stuff. Would buying and selling cars we worth of getting some extra income in your opinion. They are just looking for ways to make some money. Any ideas anyone? Thank you
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Mon Mar 07, 2005 7:38 pm |
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David Briggs
Senior Member
Cash: $ 57.86
Posts: 289
Joined: 16 Jan 2005
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Real estate is not a portfolio asset (unless you are investing in shares of a real estate investment trust), nor are collectible cars. Both require active effort, and can easily use up additional funds to maintain, store, and otherwise manage. Also, both are highly illiquid. You can't turn them into cash quickly, or you suffer a substantial sacrifice in sale price.
It is probably best to think of these activites as hobbies. If your folks want to devote a portion of their savings to these kind of assets and feel that it will allow them to occupy their time in a way which brings them a sense of personal satisfaction, then by all means this is a worthwhile use of their money. They shouldn't, however, bet their nestegg on it by putting too great a percentage of their savings at risk.
~~David
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Tue Mar 08, 2005 2:23 am |
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