Author Topic: This doesn't seem that bad...does it?  (Read 1674 times)

The Guru

  • Stubble
  • **
  • Posts: 237
  • Age: 64
  • Location: Great Lakes
This doesn't seem that bad...does it?
« on: April 11, 2019, 07:43:51 PM »
https://www.msn.com/en-us/news/us/powerball-winner-90-sues-son-says-money-invested-poorly/ar-BBVQsYf?li=BBnbfcL&ocid=BHEA000

OK, the story doesn't pass WWPD (What Would Pete Do?) criteria, but...the woman's 90 for cryin' out loud. She's invested for capital preservation- exactly as a nonagenarian should be. Especially a nonagenarian with a 9-figure nest egg. Only half of which BTWshe apparently entrusted to her son. What happened to the OTHER $139 million?

Seems to me the son did exactly what mom asked him to do... take care of her... with no indication he enriched himself at her expense.

Thoughts?

nessness

  • Bristles
  • ***
  • Posts: 463
Re: This doesn't seem that bad...does it?
« Reply #1 on: April 15, 2019, 09:31:01 AM »
I feel like there's not really enough information in this article to make a determination. The article mentions $2 million in fees - if that's what the financial advisor charged just to stick her money in index funds and CDs, that does seem pretty shady. But suing her son for introducing her to him? That seems pretty unreasonable, unless there's more to the story.

matchewed

  • Magnum Stache
  • ******
  • Posts: 4382
  • Location: CT
Re: This doesn't seem that bad...does it?
« Reply #2 on: April 15, 2019, 10:10:54 AM »
My thoughts are that you shouldn't waste your energy and time to have an opinion on this matter.