Quote:
Originally Posted by mineistaken
Everywhere is risk, however real estate would still be valuable and even if you do not do smart investment you would have solid/stable income stream for living expenses. That is why I advocate investing at least 10% into something that won't go away. And then you are welcome to blow the rest 90%. Just have SOMETHING left, that would make you living money 
Or another simple idea in real estate - you build some condo building, take penthouse for yourself (that you would own after your money stops) and rent rest of the apartments. And you have it. It is very simple to create some stable income for the worst case scenario (if you blow or miss-invest the rest).
If I was accountant/lawyer of some athlete I would MAKE them do that for their own good. And later on they would thank me and would recommend my services to other athletes etc. I think that there are some shady lawyers who take advantage of those people... As this is not that difficult to manage correctly, without losing 100%. |
Nobody is disagreeing with you here, I have plans on doing something very similar myself, but I wouldn't do it without experienced successful advisor's guiding me along the way. Someone less cautious would not bother, or get their cousin to do it for them. if high intelligence was all that was needed for investing mathematicians and engineers would be the richest most powerful people on the planet. That isn't exactly the case is it?
Anyone here know any doctors or lawyers with debt issues? Or financial advisor's? I've known a few. I wouldn't call any of them fools--although i probably wouldn't hit them up for financial advise either ;)