Yeah, my parents (now 92 and 89) are the same. They did years ago have the advantage of 5.25% interest on savings accounts, but never had the courage to do anything else. They tried a mutual fund once (Oppenheimer if I remember right) but the market in the 70's was not good so they bailed.59 South said:Love this attitude. Can you talk to my 64 year old pops who is terrified of putting money anywhere besides a local bank savings account getting about .1%? He thinks I'm completely insane and basically shooting craps for thinking I'll retire from the corporate bs by 50-55 at least.frankm01 said:
Haha! MOVE OVER WHALES!! This 62 yo just sold his first covered call ever!! Today covered calls.....tomorrow butterfly vertical leaps on SPY Darvis boxes. Haha!
Well, just kidding on the butterfly things. TDA will make sure of that. Anyway, having an absolute blast following this and some of the other B&I threads since l retired in January. I have learned so much (and made a few bucks as well) from all you on this board. Such civil and intelligent conversations. I've been investing for years but just long term buys. Now I've learned some of the many things to look for to make more intelligent decisions.
Thanks again to everyone on this board.
As far as your dad who is right at my age, he could be just set in his ways. I was lucky that some co workers early in my work career got me interested in mutual funds (Fidelity Magellan). My interest continued from there.
With the amount of knowledge you have, I'll bet if you show him a few good, smart but simple trades, he might just start to find it fun.
Good luck. Now over to the Long Term Board!