I assist my retired mom via dividend income investing to supplement her SS benefits, and your contemplated imposition of restrictions to invest would, in practice, forbid me from investing on her behalf because she would not be able to pass those tests on her own.
This year, I used leveraged and inverse funds for my mother's account and met her financial objective. If these tools are pulled away from her, then it would drastically reduce her standard of living because her SS benefits aren't sufficient to meet her daily needs.
Wai-Fung Chow Comment On Regulatory Notice 22-08
I assist my retired mom via dividend income investing to supplement her SS benefits, and your contemplated imposition of restrictions to invest would, in practice, forbid me from investing on her behalf because she would not be able to pass those tests on her own.
This year, I used leveraged and inverse funds for my mother's account and met her financial objective. If these tools are pulled away from her, then it would drastically reduce her standard of living because her SS benefits aren't sufficient to meet her daily needs.