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True

Don’t worry, you’ll likely be proven right. Then they’ll start listening to you on finance/investing matters but that becomes a different kind of burden.

My 75 year old mom started to buy more bitcoin than the initial allocation I forced on her for insurance purposes. I asked her why. She said, “The last time you were this adamant above me buying something it was when Google IPOed. It became my best performing asset.”

The issue is now I’m responsible. And that kinda sucks too.

(To be fair, she understands bitcoin much better than most people who don’t actually study it. Partly because of me talking about it and partly because of who she has always been. She’s a Republican teacher who served in the MA state house. She was a Republican because she believes in balanced budget, etc. She considers herself a Ford Republican to this day.)

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Discussion

HODL 2y ago

Your mom is a good investor lol

Nathan 2y ago

I mean, she sold a decent amount of Google without telling me because her finance advisor told her to. (To be fair, I’m not sure I ever realized she bought much because of me. But apparently she did. In multiple investment accounts. It did very well for her.)

But I did tell that this time she can’t sell any bitcoin unless I tell her to or she has to (which, of course, I would tell her to sell in that case. That’s kinda the point. It’s the best insurance).

I explained that this was really important because most financial advisors don’t get it, partly because it will put most of them out of a job. She understood and agreed.

Nathan 2y ago

She also was sitting in a good amount of cash throughout 2022 because of good luck. (She was redoing her kitchen & wanted to make sure she could cover the expenses fully, & was worried about volatility.) She mentioned that to me sometime in late September after her kitchen remodeling bills were paid.

Then AMZN shit the bed for quarterly earnings in October and I told her to put in a limit buy at $95 & see what she could get. (Being that she’s already well covered in the bitcoin area.) And well. I can’t say I’m unhappy with that recommendation either. 😂