My parents missed a massive opportunity during the 2009 recession (they actually moved their retirement account into cash and only put it back into the ‘growth’ option in 2010 which was a mistake that cost several hundred thousand dollars in missed gains) and since I have started investing they have now started to become interested in it.
My problem is they look at penny stocks / shitty companies that just IPO’d and say we should buy them (they don’t yet have a brokerage account thank god).
I want to keep them interested in this stuff because I want them to have money in Index funds instead of bank accounts. And also to make a lot of money during the next market crash with actual stock picks.
But they are getting a little burned out when I keep telling them how and why their stock picks are bad (I give reasons each time I don’t just say it’s bad).
Any tips on how to keep them interested but at the same time keep their mindset away from penny stocks?
The idea I currently have is to half-fake interest in an idea that I know is bad, and come back a few days later and say ‘it looked good at first but then I found out that __ happened which was a one time boost to earnings and made it look better than it is’ or something like that.
TLDR: my parents are getting tired of me telling them why their pennystock picks are bad and I don’t want them to lose interest but I also don’t want them to lose money.
Submitted July 01, 2018 at 07:58AM by tsmapp https://ift.tt/2KDRJxM
