Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 09-20-2015, 05:18 AM   #41
Recycles dryer sheets
 
Join Date: Feb 2015
Posts: 131
Quote:
Originally Posted by marko View Post
Read somewhere that Rob Gronkowski just socks away his Patriot's pay and lives just on his (substantial just the same) endorsement money. Plus it seems his Dad keep an eye on the money for him as well.

Smart kid.
I wouldn't trust ANYONE with my money ---- even family members. Unfortunately, many financial crimes are committed by family members. The temptation is too great. Educate yourself. It is your money and NO ONE will care about it more than you!
__________________

__________________
MrLoco 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!

Old 09-20-2015, 06:57 AM   #42
Full time employment: Posting here.
HawkeyeNFO's Avatar
 
Join Date: Jan 2010
Location: Inside the Beltway
Posts: 571
Washington Redskins running back Alfred Morris is famous for driving a 1991 Mazda that he picked up in college. He refuses to get a new car.
__________________

__________________
HawkeyeNFO is offline   Reply With Quote
Old 09-20-2015, 08:54 AM   #43
Thinks s/he gets paid by the post
2017ish's Avatar
 
Join Date: Apr 2012
Posts: 1,842
Quote:
Originally Posted by MrLoco View Post
I wouldn't trust ANYONE with my money ---- even family members. Unfortunately, many financial crimes are committed by family members. The temptation is too great. Educate yourself. It is your money and NO ONE will care about it more than you!
Sometimes you can't. That's for sure, and it is even sadder when your family rips you off: The family legal fight over Ryan Howard's finances
__________________
OMY * 3 2ish Done 7.28.17
2017ish is offline   Reply With Quote
Old 09-20-2015, 09:28 AM   #44
Thinks s/he gets paid by the post
 
Join Date: Nov 2006
Posts: 2,268
Quote:
Originally Posted by MrLoco View Post
I wouldn't trust ANYONE with my money ---- even family members. Unfortunately, many financial crimes are committed by family members. The temptation is too great. Educate yourself. It is your money and NO ONE will care about it more than you!
That's easy for you to say. I assume you are a financially savy person. What if a not so financially savy person, who also happened to be an NFL superstar, told you to go make your living playing pro football? The NFL superstar does it. It comes natural to him so he probably wont understand why you cant do it.

If you cant make a living playing football, your option is to be realistic and get a job you can realistically do. If a not so financially savy (or intelligent) person cant handle investing millions of dollars, his option is to find a professional to do it for him. He shouldnt have to expect to get ripped off.
__________________
utrecht is offline   Reply With Quote
Old 09-20-2015, 01:15 PM   #45
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 16,494
Quote:
Originally Posted by MrLoco View Post
I wouldn't trust ANYONE with my money ---- even family members. Unfortunately, many financial crimes are committed by family members. The temptation is too great. Educate yourself. It is your money and NO ONE will care about it more than you!
Unfortunately, you're correct. When I was doing fraud investigations I worked a bunch of them involving family members.

However, sometimes one has little choice, as in mental incapacity cases.
__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 09-21-2015, 09:44 AM   #46
Recycles dryer sheets
 
Join Date: Sep 2012
Location: Madison
Posts: 161
There's a new TV series on HBO that explains all this in an entertaining manner: BALLERS. You can still view it although it just had its last episode. Dwayne Johnson plays an ex-NFL star who becomes a CFP and tries to convince young black super stars to invest with him, but they want to blow it on toys:

__________________
Cheesehead is offline   Reply With Quote
Old 09-21-2015, 10:37 AM   #47
Recycles dryer sheets
 
Join Date: Nov 2010
Location: Little Trailer Down By The River
Posts: 172
The issue with fraud from a family member is that in addition to the loss, there is the whole family damage issue. If Chase cheats me I sue but I don't get sick when I drive by a Chase bank. If a family member cheats there go the various family occasions out the window as well as the loss. Putting a family member in the slam does not have the same satisfaction.
__________________
"Here's to them who would read,
Here's to them that would write.
There's none ever feared that the Truth would be heard,
But those whom the Truth would indict."

Robert Burns
poorcarver is offline   Reply With Quote
Old 09-22-2015, 10:56 AM   #48
Full time employment: Posting here.
 
Join Date: Mar 2015
Location: philly
Posts: 874
Quote:
Originally Posted by poorcarver View Post
The issue with fraud from a family member is that in addition to the loss, there is the whole family damage issue. If Chase cheats me I sue but I don't get sick when I drive by a Chase bank. If a family member cheats there go the various family occasions out the window as well as the loss. Putting a family member in the slam does not have the same satisfaction.
+1

My late husbands family is now darn near ripped apart over greed.

Three siblings grow up together MIL, Auntie in law and Uncle in law.

After many, many years uncle comes out the closet with his sexuality. MIL immediately disowns him. she is Jehovah witness and does not condone homosexuality. Auntie is furious. this is baby brother, they took baths together, grew up together. cannot believe sister would kick him to the curb like that yada yada yada. Well Uncle, moves to Phoenix starts a successful business, invests and life goes on. Dies from cancer many years later leaving Auntie a couple of million dollars.

MIL is now mad saying he should have left her something (can we say Karma). Now the two haven't spoken in years and when my husband died, sat on opposite sides of the Funeral parlor during services.

some families simply do not do well with wealth.
__________________

__________________
bclover 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
Another financial advisor horror story Sarah in SC Other topics 10 04-11-2007 10:44 AM
Another advisor horror story JustCurious FIRE and Money 54 12-01-2006 07:57 PM
Another financial advisor horror story... wildcat FIRE and Money 49 11-09-2006 05:12 PM
Annuity Horror Story...Again mickeyd FIRE and Money 6 09-28-2006 09:57 AM
Financial Advisor (CFP) Horror Story intercst FIRE and Money 7 07-28-2005 05:55 PM

 

 
All times are GMT -6. The time now is 02:01 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.