Do you help family with stock picks and general investing knowledge?

[target2019]

For immediate family, I help.

A very recent experience would be a 15-minute session with daughter. It went well, with her leading the questioning process. I cover what is more appropriate for 35-year old as contrasted with seniors, and other groups.

We also q&a about savings for our grandson, types of accounts, and when the account might be tapped.

 

[Koolau]

Like the comments. My "advice" to people which I rarely give is that historically market returns are excellent. So if you want market returns the most tax efficient and cost effective way to participate is by buying major market index ETFs.

I've found, over the years, that smart people have big egos so therefore think of that approach as "boring" or not sophisticated enough so they chase returns based on whats sexy. Usually results in significant under performance compared to the averages.

Heh, heh and here I thought I was the smart one for choosing indexes over individual stocks! Not much ego in that smart choice, I suppose.

 

[FREE866]

Heh, heh and here I thought I was the smart one for choosing indexes over individual stocks! Not much ego in that smart choice, I suppose.

Ha. I guess what I meant to say is I’ve known many people that are successful in their careers/ smart but when it comes to investing they make bad decisions

 

[Koolau]

Ha. I guess what I meant to say is I’ve known many people that are successful in their careers/ smart but when it comes to investing they make bad decisions

Man that describes me to a T - well at least the bad decisions in investing!

But, smart (I suppose) because I learned (finally) from my mistakes.

 

[rodi]

I don't pick stocks for myself - an index fund kind of gal.
I have two BIL's that ask me about various financial stuff. One is pretty savvy, the other less so. One leans very conservative in investing - asking about CDs, annuities, and bonds. I will do quick lookups of FDIC brokered CDs on Vanguard if he starts too far down the annuity path. The highish interest rates get him interested.

I have a former coworker... my former "office husband" who asks me for advice several times a year. He never follows it, though. He is currently unemployed, but doesn't have enough income to be retired... He'll be working till his mid 70's probably.

 

[mebden]

I don't pick stocks for myself - an index fund kind of gal.
I have two BIL's that ask me about various financial stuff. One is pretty savvy, the other less so. One leans very conservative in investing - asking about CDs, annuities, and bonds. I will do quick lookups of FDIC brokered CDs on Vanguard if he starts too far down the annuity path. The highish interest rates get him interested.

I have a former coworker... my former "office husband" who asks me for advice several times a year. He never follows it, though. He is currently unemployed, but doesn't have enough income to be retired... He'll be working till his mid 70's probably.

Hey Rodi I kind of chuckle at this as I've had many friends ask me how did you get to where your at to beable to retire I said I didn't listen to the NEWS back in the day saying dont invest in the stock market their going to steal your money like they did and didn't take company match and didn't invest in 401K's now they are older and I said your time has passed and they are going to have to rely on SSI as their retirement choice