My older brother makes a lot of money, but he wasn't a big saver. In 2017 he got an inheritance from my father, whose finances I had managed for a few years. This got him interested in investing. I advised him "Never add new money to this, this isn't community property, don't contaminate it with money that is community property." He ignored that. Sunday he texted me that he was going to ask Vanguard what he should do. "Why?" "Delta!" "What about it? If someone dies, his heirs will spend the money so it's irrelevant." He was thinking about needing to sell everything to avoid losing it soon. "Don't sell anything! You don't need money now anyway."
I warned some guy on the train about the big housing bubble, telling him to compare to renting the same thing. He delayed, prices went up, then he bought and blamed me for the delay and higher price.
In 2017 he got an inheritance from my father, whose finances I had managed for a few years.
This got him interested in investing.
I advised him "Never add new money to this, this isn't community property, don't contaminate it with money that is community property."
He ignored that.
Sunday he texted me that he was going to ask Vanguard what he should do.
"Why?"
"Delta!"
"What about it? If someone dies, his heirs will spend the money so it's irrelevant."
He was thinking about needing to sell everything to avoid losing it soon.
"Don't sell anything! You don't need money now anyway."