Dad refuses finance advise

gadgetmind

Gromitt wrote: »

"Computers are always on the news as being hacked into, so I prefer to walk into a shop and do my business"

Yes our parents, all four in late 70s, all have notebooks and iPads.

Physical age happens, mental ageing is optional.

gadgetmind

ANGLICANPAT wrote: »

they dont keep good records, storage in a tiny flat they cant afford to upgrade from is at a premium,

Scan it, shred it, keep records in spreadsheets and/or dropbox, and move on.

Lack of good records is due to lack of application of mental powers to the job at hand and *nothing* else.

kidmugsy

You could start by explaining that 98 > 85, and the risk he is taking because of that.

innovate

ANGLICANPAT wrote: »

If my offspring are anything to go by, your thoughts are right innovate - they are always too busy, too tired, rushing out to recreational things , or attending to the needs of their children to spend any time researching their financial options.

Partly they find it troublesome because they dont keep good records, storage in a tiny flat they cant afford to upgrade from is at a premium, and they arent tidy, so they cant lay their hands on dates/info they might need, on bill ID from the last 3mths, and wouldnt have 'time' to keep tabs on when bonus's ran out etc. They're just grateful if they survive the week intact with enough money to do what they need to do.

I think its easier for pensioners -we have time to weigh finances up and down, but younger , working people with kids , looking forward to working till theyre 70 , want to live for the day and cram everything enjoyable in, that they can, and it seems between that and working/domestic demands , financial research doesnt come high on the 'to do' list as long as they are managing to stay afloat reasonably well. The future can look after itself :eek:

Your offspring doesn't sound a million miles from how I (mis-)spent my younger years. I remember piles of unopened envelopes from banks, credit card companies and utilities - these never made it onto any priority list. I did manage to pay things by DD most of the time, and there was enough money coming in each month to keep the overdraft manageable (sort of).

Really scary, looking back on how financially irresponsible I was back then, and how it could easily have ruined my life completely. I was terribly lucky to come out of it relatively unscathed. So I have been there, been irresponsible, and I understand first hand how people can go into denial. Nobody ever pulled me up over my finances so I don't know whether I would have listened. I suppose until it hurts really badly, a huge number of people never give their finances priority. And if it never does hurt badly, this might not be the worst approach, lol.

This used to be me and my finances:

Not looking too bad - still alive, lol.