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My dad just sent my brother and I an email saying he plans to invest heavily in GM stock if it goes below $3/share. What do we say to him to convince him otherwise? It's not my inheritance I care so much about; it's seeing my parents go to the poorhouse that worries me.

heyzeus wrote:My dad just sent my brother and I an email saying he plans to invest heavily in GM stock if it goes below $3/share. What do we say to him to convince him otherwise? It's not my inheritance I care so much about; it's seeing my parents go to the poorhouse that worries me.

You're anticipating an inheritance? I wonder how many people can still say that. (I'm not trying to antagonize you)

heyzeus wrote:My dad just sent my brother and I an email saying he plans to invest heavily in GM stock if it goes below $3/share. What do we say to him to convince him otherwise? It's not my inheritance I care so much about; it's seeing my parents go to the poorhouse that worries me.

I'd write them a note expressing your thoughts, using some faux TWA letterhead., or Enron, or Lehman or etc etc etc

docellis wrote:

heyzeus wrote:My dad just sent my brother and I an email saying he plans to invest heavily in GM stock if it goes below $3/share. What do we say to him to convince him otherwise? It's not my inheritance I care so much about; it's seeing my parents go to the poorhouse that worries me.

You're anticipating an inheritance? I wonder how many people can still say that. (I'm not trying to antagonize you)

Expecting? No, nor am I basing my finances on such. But they are in their 60s and have a house and some money invested in theory for retirement. It would be nice if they were able to live off that, and live a long time, and that some day my siblings and I would inherit whatever's left rather than a crippling debt.

heyzeus wrote:my siblings and I would inherit whatever's left rather than a crippling debt.

Can you inherit debt? That seems awfully unfair.

I recently found out that my grandmother is still playing stock in her 80s. Why would you own any stock at that age? With only a small pension, she needs her savings to pay for living expenses. There's no reason to put it on the roulette wheel in hopes of getting interest that may never materialize.

With the end of pensions, I'm terrified at what's going to happen once people start retiring and have to rely on their own investments.

Arthur Dent wrote: Can you inherit debt? That seems awfully unfair.

Where else would the debt go? Just forgiven by the bank? Took on by the government?

Arthur Dent wrote:

heyzeus wrote:my siblings and I would inherit whatever's left rather than a crippling debt.

Can you inherit debt? That seems awfully unfair.

No, however they will get whatever of value is left of the deceased.

Popeye_Card wrote:Where else would the debt go? Just forgiven by the bank?

I'd assumed that it was applied against the value of assets and that if the balance was negative, the rest would have to be forgiven. Banks assume risk when they make loans. This is/should be one of them.

Arthur Dent wrote:

Popeye_Card wrote:Where else would the debt go? Just forgiven by the bank?

I'd assumed that it was applied against the value of assets and that if the balance was negative, the rest would have to be forgiven. Banks assume risk when they make loans. This is/should be one of them.

If that's the case, remind me to max out every credit card I can get my hands on before I die.

Popeye_Card wrote:If that's the case, remind me to max out every credit card I can get my hands on before I die.

You know when you're going to die?