Quote:
Originally Posted by American Psycho
i had a feeling this would be an interesting thread... regardless was still looking for real input !
fiddy1
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You're doing a good thing, and whilst all the cynicism is understandable, since you know him,
or think you do, yep, give him a break - I've done it twice.
Most important thing I found was to keep them as far away from any financial inkling of how much you make.
Of course, owning more than one big house and with a bunch of nice autos it kinda gives the game away a bit, but nowhere as bad as if you ever get tempted to talk or give any clue as to $ about what you actually make.
In both cases, after much trying, there was no way I could get them to follow where they were making a meaningful contribution to what I was doing.
(Being mindful, in fairness to them, I kept them away from anything fiscal, which is not as easy as you first think).
Long story short, the first I set up in garden maintenance, and the second in painting and decorating - it was the only way in the end and being equally honest self pride on my part in not just quitting the whole thing.
The garden guy let me down; started targeting elderly and doing little for a lot of $ - luckily I was distanced enough for plausible deny-ability by then as he'd paid back his set up costs.
The paint/decorating one did well, and still is.
He pays me back by renovating my rental propeerties for free, so I get him work for buddies who also use rentals as part of their retirement income.
Be warned it can get a bit stressful at first, but never having helped or given much before, it did feel kinda nice since it was a first for me never having done anything without calculating the $ return for over 30+ years.
Wish you luck
