My mom has a braver brain than me
moneyrelations :: Nov.23.2007
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This week, Moolanomy held the #127 Carnival of Personal Finance in which I had submitted my post of 6 Lessons learned in my brief stock portfolio history.
What caught my eye this week was My Retirement Blog’s post about the Aging Brain More Tolerant to Risk.
This really goes against my perception of frugal grannies and grandpas. The post links to an article in Money that explains that as the brain ages, the fear and anger center (amygdala) shrinks – making seniors more tolerant of risks.
And I always thought my mom was just wacky.
My mom is a very brave person. I’ve talked about how we immigrated to Canada and how she raised 3 children by herself as a widow. She made smart real estate investments and now she’s enjoying the fruits of her labour.
But she’s still going at it! My mom has dumped numerous investment advisors because they would always tell that due to her age, she should be more conservative.
The standard financial spiel.
She’d always argue with them no, she can handle the risks. She got fed up with each of them and found one that would actually listen to her – one who really knows her client profile.
While I grumble about the fees she pays, it’s her money. And her aggressiveness works for her. It’s me that’s the wimp with my index funds and my defensive stock picks.
Go figure!
Investing ::
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Thank you for highlighting the carnival. And way to go for your mom. Please give her my regards.
Yep, parents can surprise you sometimes. There I think my parents would want to downgrade to a condo because they are getting closer to retirement. Imagine my surprise when they decided that they are going to upgrade to a bigger house. Well, even though they are no savvy investors they’ve done well with their real estate moves so far. Who knows maybe they are on to something.
I love your mom already. And I hope she meets mine one day – they have a lot in common! In my early 20s (alas, 2 decades ago for me) my mom started informing herself about investing. Now she is on very, very solid ground and continues to inspire me on women-taking-charge-of-their-investments, thank you very much.
@ Pinyo
Good job on the carnival! It always astonishes me the amount of entries the hosts has to go through!
@ Esme
Hah! I’ve just learned to keep my mouth shut in those instances. As my mom always tells me, “it’s her money”. Hey, they are adults
@ Nancy
As my mom will also tell me, “she’s an awesome mom”.
Yes, she very much inspires me. She’s an incredibly strong woman.
Thanks for the good mom comments, guys! Now if only she’ll learn to use the computer… Nah, don’t want her to read this stuff and get a big head.
Wow you are all a family of investors. Nice to have her as a role model for finances!
Hi WW,
Well, yes they invest but I don’t listen to them, lol.
I just do my own thing as I don’t want to blame them for a poor investment choice
usually not a good thing to invest with family
Hi Bloggernoob,
Yeah, I totally agree. I’ll listen to their advice but I make my own decisions.
I’m much more tolerant of my own mistakes
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