From 24/7 Wall St. · Jake FitzGerald · · 1m 10s
Dave Ramsey's Father Still Trades Stocks
77-year-old Dave Ramsey father trades single stocks despite dementia diagnosis.
In brief
77-year-old Dave Ramsey father trades single stocks despite dementia diagnosis. Dave Ramsey's 77-year-old father continues day trading single stocks at Schwab despite dementia diagnosis, risking $450,000 loss if market drops 30%. Originally reported by 24/7 Wall St..
Family Tax Advisor's Warning
Family tax advisor told client to stay silent with Schwab to avoid flagging father as having dementia.
“Don’t even call them because it’s going to flag him as having dementia”
Father's Trading Activity
77-year-old father with dementia diagnosis still trades single stocks at Schwab account.
Financial Risk Exposure
Father has access to $1.5 million in investable assets with mother in cancer remission.
Legal Protection Status
Family lacks legal authority until court confirms medical incompetence for financial decisions.
“until then, people are allowed to do dumb things”
Temporary Trading Holds
Schwab can place temporary holds on trades for up to 55 business days if financial exploitation suspected.
Sandbox Trading Strategy
Limit father's trading to $100,000 to cap potential $450,000 loss from 30% market drop.
Four Moves to Protect Assets
Put POA on file with Schwab, name trusted contacts, build sandbox, get medical record in order.
What Happens Next
Family must act quickly to set trading limits before next market downturn.
The short version
Dave Ramsey's 77-year-old father continues day trading single stocks at Schwab despite dementia diagnosis, risking $450,000 loss if market drops 30%.
