/biz/ - Business & Finance

>boomer parents always earned good money
>they had between then ~£16k in pensions in their late 50s
>even though they're both higher rate payers
>totally incompetent when it comes to finances
>scared of it even
>over the past four months been warming them up to the idea of investing
>managed to convince my mother to start investing
>even managed to handhold her through buying crypto
>trying to persuade her to buy a second property too
>dad doesn't want to be left out so now he's starting to as well
>he gravitated towards gold and silver
>just pushing them into "safe" investments like bonds, big indexes, and bitcoin
i know they'll probably cash a lot of it out when they finally retire but i wouldn't want to see my parents destitute in their 70s anyway since i don't hate them
it's insane to me that they had so little at such an advanced age they seemed to think finance was some arcane inaccessible world of secret esoteric knowledge