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How do we know you're not going to go on a spending spree?
I'm the person who, years ago, found someone's very full wallet on the ground near my car in a parking lot, it had at least $100 cash in it.
I took said wallet home, went online to try and locate the person from their driver's license address, but when I couldn't find any way to reach them or find a current or valid address, I then called the phone number on the back of one of their credit cards, talked to the customer service person at the CC company, gave them the owner's information, gave my name and phone number, and told the CC customer service person I found their customer's wallet and it was safe and asked them to please get a hold of the person to let them know because I had tried and couldn't find them or their phone number.
The CC company rep was amazed I had gone to all the trouble to try and track down the owner and had gone so far as to report the event to the guy's CC company.
Within 2 hours the owner of the wallet had it back, safe 'n sound, with not a $ missing.
That's what I would have hoped for if that had happened to me.
so my "personal banker" has been on my case lately
telling me that I should immediately get out of cash right now and invest everything that is in my savings in a managed portfolio
she is saying that cash is going to be nearly useless in the months ahead and dollar is going to crash
WHile I do think that wisely investing is the best strategy but I'm getting uncomfortable why she is being almost pushy right now, secondly I would never like to invest in anything I do not understand ( granted my financial knowledge is poor ) but just seems silly to get into something I dont understand
Is there really a grave concern that dollar will lose most of its value in the near future ?
Do the personal bankers get a cut every time we invest through them or she is doing this out of the goodness of her heart and watching out for my interest ..I'm skeptical
please help
I wouldn't invest with this person at all. Ever.
It's time for you to learn the basics of investing. It's not that hard. Go to the library and read the personal finance section. Or check out some blogs online.
If the dollar really crashes in a major way, then very few things you invest in are going to do well--except maybe gold or precious metals. But honestly, if the scenario your banker claims is true, your best bet is to plan on moving to a rural area and to become self sufficient without money. I think getting off the money system is a good idea for lots of reasons. But if you can't or won't, then it makes sense to play the game.
I want to educate myself on investing stocks and financial markets
any recs where to start?
so she does get a commision of the money I invest through her I knew it , it sounds so shady that she is being so persistant and fear mongering and this bank is chase uggh
The first thing you need to know is that banks are not good places to go for investing for average people. There is such a thing as investment banking that may be worthwhile for very rich people--people with at least $1,000,000 to invest or more--but I take it that you're not in that category. Otherwise, they just rip ordinary folks of with poor performing products that charge high fees.
I want to educate myself on investing stocks and financial markets
any recs where to start?
so she does get a commision of the money I invest through her I knew it , it sounds so shady that she is being so persistant and fear mongering and this bank is chase uggh
Here is a good list from members of the Bogleheads forum:
The first thing you need to know is that banks are not good places to go for investing for average people. There is such a thing as investment banking that may be worthwhile for very rich people--people with at least $1,000,000 to invest or more--but I take it that you're not in that category. Otherwise, they just rip ordinary folks of with poor performing products that charge high fees.
1 million is hardly "very rich". That gets you maybe a 2 bedroom house on a 4000 square foot lot built in the 1920s.
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