CSK Fanatic Posted May 6, 2012 Posted May 6, 2012 My dad keeps investing in weird investment plans. He is very easy to convince outside his home, not by family members. He is nearing retirement in 2013. So I dont want to see him wasting money and ruin his hard earned money (Govt. employee). Recently we got duped when buying residential plot, case is in court now our money is stuck for atleast 2 yrs minimum (Speed of our judiciary). Its heartwrenching to witness this happening to a guy who has worked for 34 years. :(( I think he suffers from "Just Can't Say No Syndrome". Mom is upset, we dont want to double our investment or anything, we are simple family. My father is also a simple friendly guy but he just can't resist temptation (In other words cant say No). He hardly use private banks like HDFC, ICICI, Citi etc yet he has account in allmost every bank in India, paid 10k approx for opening account in some banks. Again he was decieved by soft spoken salesperson, words like Uncle Jee etc are more than enough. I dont him to indulge in any kind of insurance, provident funds, money doubling like Amway. Coz I know our expenditure and way of living is down to earth. We simply have no reason to extra stress and burden. His pension will be more than enough for him n mom. As I'm moving to Canada permanently in 2013 I will bring them to Canada. So guys please advise how you convince your dad without sounding rude.
bangladeshifan Posted May 6, 2012 Posted May 6, 2012 just say give ur money to me. i will double em in 5 yrs
Old guy Posted May 6, 2012 Posted May 6, 2012 just say give ur money to me. i will double em in 5 yrs :hysterical::hysterical::hysterical::hysterical::hysterical:
Sachinism Posted May 6, 2012 Posted May 6, 2012 Get the family together and have a word with him. Explain things about the family is not in need or any radical income. If he needs to make investments, then tell him he needs to spend some time researching where the money is going, get him to seek advice from someone who may have more experience on the matter. Explain how he's hurting the family too.
beetle Posted May 6, 2012 Posted May 6, 2012 Ask him to put all his retirement money in your mother's name or an account which will require both their signatures.If he can't say no to strangers...may be he won't be able to say no to her.He can take decisions on investment as he has earned the money but he will have to talk it over with his wife first.
Texy Posted May 6, 2012 Posted May 6, 2012 tell him, "you 'invest' any more money and I will marry a black girl in Kaneda" ...works like a charm
Roshanrocks Posted May 6, 2012 Posted May 6, 2012 make mutual fund investnent very less risk :hysterical:
Roshanrocks Posted May 6, 2012 Posted May 6, 2012 Just ask him to tell anyone he meets that he is retired and has no money.. by the way how do so many salesmen meet him so easily?
Zelig Posted May 6, 2012 Posted May 6, 2012 tell him' date=' "you 'invest' any more money and I will marry a black girl in Kaneda" ...works like a charm[/quote'] what a ***** you're. racist kunt :giggle:
Old guy Posted May 6, 2012 Posted May 6, 2012 what a ***** you're. racist kunt :giggle: most indians are..
velu Posted May 6, 2012 Posted May 6, 2012 Retirement plans by most financial advisers are waste . 1L in 2006 is more than 1.5L in 2012. Investing in MF is a waste if you know little bit of stock mkt IMO, instead you can invest in NiftyBees .
Old guy Posted May 6, 2012 Posted May 6, 2012 Sad but true well i guess we dont need to take him seriously here..most old people are racist..same thing will work on my grand ma too :hysterical:
Crookbond Posted May 6, 2012 Posted May 6, 2012 Ask him to put all his retirement money in your mother's name or an account which will require both their signatures.If he can't say no to strangers...may be he won't be able to say no to her.He can take decisions on investment as he has earned the money but he will have to talk it over with his wife first. Ah! Typical lady in the house strategy but this works for sure. :D
beetle Posted May 7, 2012 Posted May 7, 2012 Ah! Typical lady in the house strategy but this works for sure. :D A good spouse (irrespective of wife or husband) is the best investment in life.Your parents grow old and die....kids grow up and leave,siblings get their own life.The one person who stays with you is your spouse.This person is also most invested in your happiness and well being.Makes sense to invest in him/her.But only if your spouse is worthy and I assume his mom is worth the trust.
Rajiv Posted May 7, 2012 Posted May 7, 2012 You do realize the wait time to get folks in Canada, firstly they have stopped accepting applications for 2 years and will pull some tough law like Australia....40k per parent so tell him to save for that
Sir john Posted May 7, 2012 Posted May 7, 2012 is tourist visa available for usa nd canada? Can i apply? Tell me pls
bangladeshifan Posted May 7, 2012 Posted May 7, 2012 is tourist visa available for usa nd canada? Can i apply? Tell me pls they r taking workers there. apply asap
Needforspeed Posted May 7, 2012 Posted May 7, 2012 Hi CSK fanatic, Here are a few suggestions : 1. All properties and Money should be in joint names of your dad and mom, requiring both their signatures for any transaction to take place. 2. At his age, he should go for only assured income deposits, like long term bank deposits or good quality real estate. Mutual funds and Equities are only for younger people who can afford to take a loss as they have a future income. 3. Ask him to close his accounts in different banks and concentrate his accounts in one or two banks and that too in some Major and safe banks like State Bank of India or ICICI Bank. Best of luck.
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