FA Offering Financial Instrument--Turn $90K into $360

[ncbill]

Quote:

Originally Posted by Elbata Here's one more question concerning my friend: He's a professional gambler who's amassed a nest egg of $400K. He's in his late 40s, to my knowledge never had a regular job...my recommendation would be to get a regular job for 10 years to become eligible for social security and medicare.

Well, as a professional he should have been paying self-employment taxes all along anyway.

But, yes, he needs to do something that allows him to pay the above to be eligible for SS/Medicare.

Had an older relative who would have been eligible for SS disability & Medicare given their long-term, ultimately terminal illness had they not had too few work credits.

[mystang52]

I suspect that no matter what OP tells his friend, the friend will make the "investment."

[dallas27]

Run

[haha]

Quote:

Originally Posted by frayne I remember seeing a segment on 60 Minutes about a very successful gambler but he did lose a boat load of money in the market. He said to him at least, gambling was safer than investing in the market.

If the description of this "successful gambler"is anywhere close to accurate, then he would not want an investment. Thee guys have all the risk they can harness in their betting. The rest ordinarily goes into CDs and bank accounts.

Successful gamblers (and there are some) are the most money realistic people you will ever encounter.

This is another one of those posts: "My friend, a multimillionaire, would like an FA recommendation. And by the way, though he is very handsome and charming, he would like some help getting a date."

Uh-huh, for sure, and twice on Sunday.

Ha