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.
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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