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[quote=Anonymous][quote=Anonymous]Yes, I recently learned all the details and wasn't totally thrilled. My parents are in their late 70s and my father's health is declining, which is how I became involved with their finances after a lifetime of them being extremely private about it. Background is my father is a retired professor from a well known university and my mother a retired teacher.

Their net worth is a house (solid but estate sale condition) worth 800kish and another 800k in investments. On top of this they have annual pension incomes of about 150k plus social security, which together means they have an annual HHI over 200k. And for life. Which is excellent for pensions, but I couldn't understand why their investments was onlh 800k and sat down to figure out the details.

I quickly found out while my parents did the right thing with pension contributions, my father was so conservative with his other investments that he was averaging 5% returns, which is below the usual 6-7% benchmark used by most people, and half the S&P annualized returns. If he'd been confident enough to just put everything in the S&P funds starting in the 1990s, they'd have so much more money.

They're still in a good place, they spend far less than their income, but I can't help but be slightly annoyed by my father's indifference and rectitude around money and investments. To make it even more annoying, his good friends are all investment savvy men. My mother admitted he routinely ignored their advice because he was afraid of losing money! Well, he sure lost money by being so conservative!

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I get it. That's rough but par for the course from some elder academic professors family members we know. Don't trust anything and then with a DB plan professionally managed - but not inheritable - they really checked out on the capital market trends. [/quote]

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