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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? |
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There is no answer at this time. |
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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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