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My mum wants to buy SpaceX. How to talk her out of it?
Investor summaryBearish
OP's mom wants to sell farmland to buy SpaceX stock, but OP is panicking since SpaceX isn't publicly traded and wants to stop her.
Bear points
- SpaceX is not publicly traded, so any offer to buy its stock is likely a scam.
- Selling productive agricultural land for a non-existent public asset is a terrible financial decision.
Post body
We live in a post-communist country and my parents received an agricultural land after the revolution. Once or twice a year, they receive a letter from an interested person who wants to but the land. They have never thought about selling the land, up until now.
A couple of minutes ago, my mother told me they are selling the land and buying the SpaceX stock. I couldn't believe what I have just heard. I almost got a heart attack.
Fortunately, they don't know how to buy stocks and asked me if I could help them open an investment account. How to talk them out of buying the stock without making them feel stupid/angry?
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