Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 8
22 year client with 16.6% returns (you do math - 8.6% for SP500) and he hired
a bank wealth manager cause he was a neighbor for some house proceeds

my sin
I mused about my own retirement one day (I'll own this - no one accused me of being a competent business person, and I should have just kept my mouth shut)
I said I thought he should take his latest house proceeds and pay off the mortgage on his new house cause he was retirement and shouldn't have debt (he asked, I answered; this answer wasn't in my best interests; I figured he could figure that, but he got mad at me; again, he asked my opinion and I was foolish enough to give it to him; honestly don't understand his reaction)

it is the client's money
but this one almost made me despair
and yep, last 5 years have lagged index by about 1% a year
but geez...the bank manager won't have ANY goal or ANY accountability PERIOD

intensely frustrated
Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.