Ret, Well, you know, those old pots call the kettles black. <g> I share one client who inherited $5 million, most in a single stock. A good stock, drilling related, but that anyone would have most of their future in one stock after Enron and Worldcom amazes me. Whenever we get her to talk to us, which is not all that often, she could really care less about positioning the 5 mil. What she wants to talk about is the $50,000 she spent on furniture (totally ignoring my suggestion that she buy beanbags and invest the rest <g>) and whether or not she needs to upgrade her Lexus.
With my famous tact, I finally got so upset that she was so slapdash with her financial future and said, "it is the money you have invested that allows you to buy these things. You have to make some decisions on protecting it and sooner is better than later." It worked and she let us make some decent moves to keep her stash intact. But I didn't get an invitation to her Xmas party. My partner did. <VBG> |
