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re: How do you help financially ignorant people?
Posted on 4/20/15 at 12:13 pm to Salmon
Posted on 4/20/15 at 12:13 pm to Salmon
Yeah, as others have stated, she doesn't want to appear or feel dumb.
Show her what 5k looks like if left alone for 20 years vs what 5k looks like at 8% return for 20 years.
If the money doesn't talk she's a lost cause.
Show her what 5k looks like if left alone for 20 years vs what 5k looks like at 8% return for 20 years.
If the money doesn't talk she's a lost cause.
1
Posted on 4/20/15 at 7:59 pm to bayoubengals88
This is the best advice to reach them. People like this don't want to be preached to and don't want to hear long winded explanations.
Show them two numbers:
$5,000
$16,000
Which one of those would he rather give to his kids in 15 years?
Show them two numbers:
$5,000
$16,000
Which one of those would he rather give to his kids in 15 years?
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