A Waterloo man is in custody after police say he set fire to two $10 bills in his elderly father's presence.

Authorities said Robert Allen Broderson, 53, was arguing with his 98-year-old father over the older man's retirement and stock funds Wednesday night.

Broderson got the two bills from his father, then set them on fire and flung them in the air, saying money didn't mean anything to him, court records show. Broderson then extinguished the bills at his father request.

Officials said the father is on oxygen and his air tube was on the table next to him during the incident.

Broderson faces several charges including, reckless use of fire, second-degree harassment, interference and possession of marijuana.