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The Moneyologist: Why would a 93-year-old woman have 20-year corporate bonds in her portfolio?

Dear Moneyist,

My 93-year-old mother has dementia. She has used a broker that she and my father basically inherited when their prior broker left the firm. She liked him very much and, not being that smart financially, I trusted him as well.

She thankfully has sufficient funds to support her, as my father passed away 10 years ago. Now that I have finally started reviewing her portfolio overseen by this one broker, I see he started buying very long term corporate bonds, some not expiring for another 20 years from now in very large amounts (10,000 shares to 20,000 shares).

‘I have no clue what these long-term bonds are doing in this portfolio.

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