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Some people are beyond hope. That's not a knock on them, just a fact. My Aunt has $50,000 sitting in a savings account at .4%. She won't even take $10,000 and put it in a 6 month CD at 3%. Her fear is what if an emergency pops up. In her 67 years her worst emergency was a $1,000 car repair yet she feels nervous if her savings drops below $50,000. She won't even money the cash into an FDIC insured money market account because she can only write 3 checks a month out of it. I countered with the fact she can't write any checks out of her savings account.
Some people have been doing the same thing for 60 years and will just never change. I work in banking and some of the stuff I see will just blow your mind. People come in and pay us $3 for a $20 gift card. I asked a person I knew why they didn't just give the person a $20 bill and save the $3. They had no answer. Then I watch people take out 30 year EE bonds at a fixed 1.3% while turning down I bonds paying over 5%. The tellers will ask the customer why they'd want to lock in a rate of 1.3% for 30 years especially when I bonds are currently over 5%. 9 times out of 10 the answer is because my dad bought EE bonds for 40 years and they've been buying them for 20 years and they don't want to change what they are doing. We'll explain a CD at 3% would make them more than twice as much money and then they think we're just trying to scam them. If people can't figure out 3 is greater than 1.3 then they are beyond hope.
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