Retirement-killing money mistakes
An elderly woman who collected valuable coins wanted to foil robbers, so she decided to hide about $100,000 worth of them around her house. Unfortunately, her heirs don’t know where she hid the money, or even if the woman herself remembers, says Jude Boudreaux of Upperline Financial Planning in New Orleans. “For now, they're planning on taking a metal detector through the house after she passes." Boudreaux says he's seen all kinds of valuable possessions locked away or forgotten, from piles of casino chips to cash buried in a backyard coffee can to antiques and valuable art because "Grandmother happened to be in Paris 70 years ago." Other financial advisers say it’s not uncommon for family members to discover safe deposit boxes full of unredeemed savings bonds, sometimes long after the bonds matured and stopped paying interest.