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Every Thing Else Board
How mush cash?
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<blockquote data-quote="John SD" data-source="post: 1248663" data-attributes="member: 14713"><p>+1. I tend to think of myself as a very independent"go it alone" kind of guy when it comes to financial stuff, but if I were to seek the advice of a "professional" I'd probably go to one of Dave's ELPs. </p><p></p><p> Dave had a 67 yr old guy called his show today who had done very well for himself over the years. Had accumulated over $2M with an income of $60K per year. His concern was that much of his $2M was in the bank earning peanuts and the rest was in real estate that he really wanted to get out of because he felt with his declining health he could not continue to manage it properly himself. </p><p></p><p> The greater and further concern was that he and his wife had an adult disabled daughter who was finanacially dependent on them. He was mostly concerned about how to make his money last to benefit the daughter after he and his wife were gone.</p><p></p><p>Dave offered his standard advice of investing in mutual funds with a good track record and real estate. He suggested that the guy was still sharp enough to oversee a hired real estate manager if he really wanted to, but if not, Dave understood. The money in the bank needed to be put to better use and that's where Dave suggested the guy visit the ELP, at least to see what other options were available.</p></blockquote><p></p>
[QUOTE="John SD, post: 1248663, member: 14713"] +1. I tend to think of myself as a very independent"go it alone" kind of guy when it comes to financial stuff, but if I were to seek the advice of a "professional" I'd probably go to one of Dave's ELPs. Dave had a 67 yr old guy called his show today who had done very well for himself over the years. Had accumulated over $2M with an income of $60K per year. His concern was that much of his $2M was in the bank earning peanuts and the rest was in real estate that he really wanted to get out of because he felt with his declining health he could not continue to manage it properly himself. The greater and further concern was that he and his wife had an adult disabled daughter who was finanacially dependent on them. He was mostly concerned about how to make his money last to benefit the daughter after he and his wife were gone. Dave offered his standard advice of investing in mutual funds with a good track record and real estate. He suggested that the guy was still sharp enough to oversee a hired real estate manager if he really wanted to, but if not, Dave understood. The money in the bank needed to be put to better use and that's where Dave suggested the guy visit the ELP, at least to see what other options were available. [/QUOTE]
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