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Q: Financial advice for indigent seniors who wish to achieve financial prosperity ( No Answer,   3 Comments )
Question  
Subject: Financial advice for indigent seniors who wish to achieve financial prosperity
Category: Business and Money > Finance
Asked by: la5-ga
List Price: $5.00
Posted: 03 Apr 2004 13:58 PST
Expires: 03 May 2004 14:58 PDT
Question ID: 324657
Is there good financial advice for indigent seniors to help them achieve prosperity?
Answer  
There is no answer at this time.

Comments  
Subject: Re: Financial advice for indigent seniors who wish to achieve financial prosperity
From: cloud9driver-ga on 03 Apr 2004 18:19 PST
 
By "Indigent" do you mean waiting for the bulk dogfood to go on sale
at Costco?  Or "Indigent" meaning government assistance (Social
Security, Subsidized Housing, etc) level, and no other means of
support?  Financial Prosperity is at a higher level then meeting basic
needs (Food, Shelter, Health).  If these needs are not being met, then
prosperity is not within reach, nor should it be sought.  Someone who
has their basic needs being met will feel the emotional need for more.
 The only way to prosper financially is to have more money coming in
then going out.  Attitude plays an important role.  If you feel poor,
then you will be poor.  Are there any areas in their life that cost
savings can be accomplished?  Are all available resources being used? 
There are many programs aimed at Indigent Seniors (drugs, housing,
food banks, etc).  Any aid received reduces the need to spend whatever
minimal income the senior may have.  That money saved can then be
invested "safely" in short-term CD's, but if the person is past
retirement age, the chances of becoming prosperous is very remote, and
taking risks with what little money is available to speculate in the
stock market or buying lottery tickets is ill-advised.
Subject: Re: Financial advice for indigent seniors who wish to achieve financial prosperity
From: neilzero-ga on 04 Apr 2004 10:19 PDT
 
If you are well educated, or have skills and talants that are
marketable, plus a good attitude, health permitting, you can likely
get a part time job. Some employers give preference to seniors even in
their 70s.
 Most self employment plans are costly and success is rare. Most
likely are dishonest, but becoming an employee of a local business is
low risk.   Neil
Subject: Re: Financial advice for indigent seniors who wish to achieve financial prosperity
From: jiiins-ga on 16 Apr 2004 02:51 PDT
 
I totally agree with both previous comments. Nice to see smart people
giving smart advice.
Maybe it's not the case, but if you can afford it and need honest,
no-frills financial advice, get a subscription at
http://dowtheoryletters.com. It costs $250 a year, but the daily
remarks written by Richard Russell are invaluable. He is 80 years old,
and knows what he's talking about. He just cares about preserving
wealth. Get a trial subscription, it's worth it.

Hope this helps.

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