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color of money chat q: should she let husband turn over their retirement investment accounts to one of his friends for management?

Posted by jingle pixie (aka chris) Dec 1 '11, 11:07

Investing with a good friend

My husband's friend appears to be a very successful fund manager. He recently left his corporate job and is managing funds for high net-worth individuals along with some non-profits. My husband would like to turn over our retirement accounts to him. I'm strongly against that. The odds of a company like Fidelity or TIAA-CREF running a ponzi scheme big enough to endanger our life savings are near zero. Not so with an individual. What's your opinion?

Responses:

Put a quarter of it in. -- nm - lileve Dec 1, 11:43
Settle down. Not everyone is Bernie Madoff. -- nm - Dr.Vermin Dec 1, 11:13
have friend put up his own house as collateral against failure - Epiphany Dec 1, 11:10
Hate mixing business and friendship - but even considering it myself right now - but you could move a portion over to "test drive" and... - Name Withheld By Request Dec 1, 11:10 3
- "If our first statement is in crayon, we're done." -- nm - TFox Dec 1, 11:11 2
  - L3! -- nm - Epiphany Dec 1, 11:18
  - "At Big Baby Brokerage, we care about your financial security as much as our Binky!" -- nm - Name Withheld By Request Dec 1, 11:13
not enough information. It may very well be ok depending on how the guy manages money -- nm - decline Dec 1, 11:10 1
- and how close of a "friend" he actually is... -- nm - znufrii Dec 1, 11:11
what could possibly go wrong? -- nm - loosilu Dec 1, 11:08
split it half and half. -- nm - znufrii Dec 1, 11:08
i don't think i would eff with that. -- nm - TFox Dec 1, 11:08

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color of money chat q: should she let husband turn over their retirement investment accounts to one of his friends for management?

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