Gambling issues and investment

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annibe11e
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Gambling issues and investment

Postby annibe11e » Mon Jan 07, 2013 10:12 am

Has anyone with gambling issues had it affect their investing? Either by keeping you from investing or causing you to make bad high-risk investments?

StarryC
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Re: Gambling issues and investment

Postby StarryC » Tue Jan 08, 2013 2:44 pm

Apparently not, huh?

I can't say I've had experience with this. However, I think that most people's investments should be relatively low risk and attention free. If you can, have money taken out of your paycheck and put into a 401K or the like invested in an index fund or Vanguard or whatever low fee mutual fund and bonds. Then ignore it. Maybe look at it once a year and rebalance. Or, my 401k company does the rebalancing for me, and I would only need to make changes as I approached retirement.

If you have had a real problem with gambling, I'd stay away from any exotic or non-standard investments and ANY investments that you can't afford to lose.

Tightwad
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Re: Gambling issues and investment

Postby Tightwad » Tue Jan 08, 2013 3:30 pm

I used to work with a guy who lost somewhere around $150,000 of his mother's life savings in less than a year day trading. Does that count?

I tried to warn him... :puke:

DoingHomework
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Re: Gambling issues and investment

Postby DoingHomework » Tue Jan 08, 2013 4:22 pm

Tightwad wrote:I used to work with a guy who lost somewhere around $150,000 of his mother's life savings in less than a year day trading. Does that count?


He wasn't gambling. He was managing investments. Mom was gambling.

Tightwad
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Re: Gambling issues and investment

Postby Tightwad » Tue Jan 08, 2013 6:07 pm

DoingHomework wrote:
Tightwad wrote:I used to work with a guy who lost somewhere around $150,000 of his mother's life savings in less than a year day trading. Does that count?


He wasn't gambling. He was managing investments. Mom was gambling.

I didn't stick my nose too far in his business but I don't think mom understood what he was doing.


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