Do a graphic demonstration. Pile all the money on the kitchen table. Put a clean liner in their kitchen trash bin.
Count out 2%, dump it in the trash bin and say that was 2018.
Count out 2%, dump it in the trash bin and say that was 2019.
Count out 1.5%, dump it in the bin and say that was 2020.
Count out 7%, dump it and say that was 2021.
Count out 7.5%, dump it and say that is 2022.
Maybe seeing his pile get smaller and smaller like this might help him visualize that keeping wealth in cash and close is a losing strategy. You want some cash just in case, but not too much.
FightsWithFriends t1_iye2la8 wrote
Reply to comment by invenio78 in Please Help - Dad Hoarding Unprotected Cash by [deleted]
Do a graphic demonstration. Pile all the money on the kitchen table. Put a clean liner in their kitchen trash bin.
Count out 2%, dump it in the trash bin and say that was 2018.
Count out 2%, dump it in the trash bin and say that was 2019.
Count out 1.5%, dump it in the bin and say that was 2020.
Count out 7%, dump it and say that was 2021.
Count out 7.5%, dump it and say that is 2022.
Maybe seeing his pile get smaller and smaller like this might help him visualize that keeping wealth in cash and close is a losing strategy. You want some cash just in case, but not too much.