Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Re: Financial Advice for Friends and Family - How to handle it?
Old 03-19-2007, 11:15 AM   #21
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Re: Financial Advice for Friends and Family - How to handle it?

Quote:
Originally Posted by saluki9
I'm the trustee for a lot of family funds, so I guess I don't see the problem with this. If you know what you're talking about, who could you want to help more than your family?
Good point, but I have been told I am "too conservative" for the "investors" in my family..............
__________________

__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Financial Advice for Friends and Family - How to handle it?
Old 03-19-2007, 02:02 PM   #22
Full time employment: Posting here.
kaudrey's Avatar
 
Join Date: Feb 2006
Location: Alexandria, Va
Posts: 943
Re: Financial Advice for Friends and Family - How to handle it?

Quote:
Originally Posted by brewer12345
I tailor my advice to the person/situation. For my parents, my FIL and my MIL, I actually manage part or all of their portfolios, tailoring each portfolio to each person's risk tolerance and goals. For siblings, I give general and specific advice when they ask for it, but I don't push. They consistently ask for advice, and I give it. Friends vary considerably, from cincrete help to me being evasive on the subject.
This is pretty much my situation. My sister and several friends have asked for advice, so I set them up, tell them how I think they should invest their funds, and review their portfolios several times a year.

I usually give them several options (i.e. between different mutual funds in the same asset class), but they pretty much always go with my first choices.

Karen
__________________

__________________
Two roads diverged in a wood, and I - I took the one less travelled by...
kaudrey is offline   Reply With Quote
Re: Financial Advice for Friends and Family - How to handle it?
Old 03-19-2007, 02:06 PM   #23
Full time employment: Posting here.
 
Join Date: Sep 2006
Posts: 678
Re: Financial Advice for Friends and Family - How to handle it?

Quote:
Originally Posted by Life_is_Good
I usually get that long email about the investment that was just made yesterday.

Now.... the sister-in-law is not so sure about all the terms, fees and plan descriptions. The salesman was really nice though and showed her that there is no way it can lose money. It's piece of mind. Here comes the email..... just a single large block of copied statements from the sales contract. As I'm reading... I'm getting that "sick" feeling in my stomach. Oh boy... not again.
That was very nice of her to ask your advice AFTER she completed the transaction.
__________________

__________________
JustCurious is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Do your family members listen to your financial advice? JustCurious FIRE and Money 63 02-08-2007 11:22 PM
Family and Holidays Leonidas Other topics 15 12-22-2006 08:57 AM
Advice to younger family members uncledrz FIRE and Money 16 12-18-2006 04:09 PM
either the "Certified Financial Planner" is incompetent - swampmaple Hi, I am... 12 10-13-2006 10:18 AM
Looking for free advice from all of you Cal Other topics 8 08-17-2005 03:30 PM

 

 
All times are GMT -6. The time now is 06:54 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.