The first tip for 70-year-olds: Never invest in venture capital
No matter how much investment you have before, don’t invest after you are 70 years old.
The ancients said that life is rare in seventy years. Although the lifespan of the elderly is getting longer and longer, and it is no longer difficult to be seventy years old, after all, time is unforgiving, and the risk of reinvesting at the age of 70 is relatively high. This is because the 70-year-old elderly have poor ability to bear risks.
More importantly, no matter what investment is made, various possibilities will arise during the investment process, and these may face various risks. The advantage of being young is that you can start over if you fail, and you have no time to start over after the age of 70. It is also important that you are no longer able to deal with the risks you may face in the investment process after the age of 70.
There are many sayings: The strong winds and waves have come, but I didn’t expect to capsize the boat in the small river. This sentence is very suitable for the elderly to invest. Maybe you have engaged in a lot of investments, but it is often easy to invest after the age of 70 to sail in a small river.
eliminates all kinds of venture capital and is the first advice for the elderly over 70 years old.
The second biggest advice for 70-year-olds: Never lend money to foreigners
Borrowing money in life is inevitable, especially in some families with many relatives and friends, mutual help lending is also part of family affection.
However, it is also an important advice for 70-year-olds not to borrow money from outside. The reason is obvious:
First, the money of the elderly is the pension money accumulated throughout their lives. They can no longer bear the price of borrowing money and not paying it back. Once they encounter the situation of borrowing money and not paying it back, it may cause harm to the financial ability of pension.
Second, the economic income of the elderly is limited, and now there are relatively few people who can borrow money to repay in time. Once you need to use money, it will damage the relationship between relatives and friends. Some may never interact with each other from now on.
Third, the future of the elderly is very uncertain. If an accident occurs before borrowing money, it will cause trouble and burden to the children to be unable to claim the debt.
no longer lends money to anyone, this is the second advice for the elderly over 70 years old.
The third biggest advice for 70-year-olds: Don’t buy financial products anymore, bank deposits should be planned in installments, which is the most easily overlooked by the elderly
Many elderly people used to like to buy bank wealth management products, but now bank wealth management has undergone two major changes: one is that the bank’s wealth management products are no longer bank wealth management products in the traditional sense, but the wealth management products of bank wealth management subsidiaries; the other is that bank wealth management no longer guarantees principal and interest, but any financial product has risks and may have a risk of losing money. Therefore, it is not recommended that the elderly buy financial products, including bank financial products. After all, as long as they lose, no matter how much they lose, it will be a torture for the elderly.
In addition, some elderly people keep all their money in the bank, thinking that this is safer. But in fact, it is also risky to rashly deposit all your deposits in the bank. Here are the three tips for deposits for the elderly:
First, the principal of deposits of any family member in a bank should not exceed 500,000 yuan. Although the bank in my country is relatively stable, after all, in theory, when the bank goes bankrupt, the bank insurance institutions will only pay the principal and interest of 500,000 yuan first. Therefore, it is reasonable to have a deposit of 500,000 yuan for insurance.
The second is to divide family deposits into two parts: fixed deposits and daily reserve deposits. Fixed deposits can be divided into large-denomination certificates of deposit with a 3-year term, with a relatively high yield; partially deposited large-denomination certificates of deposit with a one-year term, with the purpose of ensuring liquidity while obtaining higher returns. Never put all your deposits in medium- and long-term deposits, as this will lead to a lack of liquidity in the family.
Third, some funds are stored as reserve funds for daily life in accounts similar to Tiantian Financial Management. Currently, the income of Tiantian Financial Management is around 1.5%. Although the income is not high, it is acceptable. More importantly, the elderly must leave enough reserve funds for themselves to ensure emergency needs.
70 years old, you should regard money as money, rather than still regard money as paper. The elegance of money is already a luxury for the elderly. The above three advices will provide financial guarantees for a happy life after the age of 70. Have you done this? (Qilian Jian)
