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re: How do you help financially ignorant people?
Posted on 4/20/15 at 1:20 pm to Salmon
Posted on 4/20/15 at 1:20 pm to Salmon
Sounds like you need to have an adult conversation with BIL. Make a deal like in Days of Thunder where he does it your way for 1 year (enough to see tax benefit and some interest benefit) and then make a decision.
Spin off question: How far back can you make amendments to your taxes to take advantage of items he may have been missing out on?
Spin off question: How far back can you make amendments to your taxes to take advantage of items he may have been missing out on?
This post was edited on 4/20/15 at 1:21 pm
1
Posted on 4/20/15 at 1:26 pm to seawolf06
quote:
Please don't misrepresent the system if you don't understand it.
I don't know a damn thing about the "system", so I'm not saying anything about it. I am saying that grown folks sophisticated enough to have a small business employing 5 people, run by someone with enough knowledge/understanding to hold an electrician's license, who obviously has the technical knowledge to read building plans/wiring schematics, can comprehend a passbook savings account rather than an envelope as a safer place to store funds. If he's truly risk averse, he SHOULD keep the dang cash in a bank where it is covered by the FDIC.
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