YET ANOTHER POLL: Do you manage other people's Money?

[rkbabang]

Someone else mentioned this in the how old are you thread. It is an interesting question, so I thought I'd create the poll.

I'm not even going to try to predict the outcome of this one....OK I'll take a guess:  25% yes, 75% no.

 

[ERICOPOLY]

I manage my wife's RothIRA but let's be honest -- it was my money that went into the account in the first place, given that she spent all of her income.

[bookie71]

i am willing to live with my mistakes but don't want others to have to live with them.

[cubsfan]

I manage my own. Then directly manage 5 other friend/family.

Advise on another 10 accounts.

 

All separate accounts.

 

Not being paid on any of the accounts. I'm just a hack, helping them out, like a few others mentioned.

[Ham Hockers]

Would be curious how many of the yesses get paid to manage other people's money.

[Ham Hockers]

ignore me. i'm a moron.

[rkbabang]

I manage my wife's RothIRA but let's be honest -- it was my money that went into the account in the first place, given that she spent all of her income.

 

I manage my wife's RothIRA as well, this was started by a roll over of her old 401K into an IRA when she quit her job to be a stay at home mom 13 years ago, so anything that has been added to it has been money I've made.  I also manage UTMA accounts in my kids' names, that they invest portions of their allowance as well as Christmas/birthday money from relatives.  Even their accounts have significant amounts in them now due to the growth (5 figures each).    But I still answered "No" to the poll, because neither my wife nor my kids pay me to manage their money for them.  Maybe I should start charging a fee.  :)

 

 

[finetrader]

I manage my wife's RothIRA but let's be honest -- it was my money that went into the account in the first place, given that she spent all of her income.

 

Do you get paid in any way? In nature?  ::)

[ERICOPOLY]

I manage my wife's RothIRA but let's be honest -- it was my money that went into the account in the first place, given that she spent all of her income.

 

Do you get paid in any way? In nature?  ::)

 

In my opinion I should be compensated better given her account returns:

 

RothIRA.tiff

[CorpRaider]

Eric,

 

If that is your wife in your avatar, you guys are even!  haha. Just kidding.

[DTEJD1997]

May I suggest that perhaps there be a poll..."Do you PROFESSIONALLY manage other people's money?".

 

I have a tremendous amount of input into a couple of family & friends accounts.  I don't "pull the trigger", but they come to me for ideas, advice, and execution strategy.

 

I am not directly paid for any of this advice or work, so I'm just an "amateur".

 

I know a few other people do the same thing.

 

 

[FiveSigma]

I think this poll would have been much more interesting if had a finer granularity such as:

 

- Self-Directed Investor (only)

- Analyst at a fund

- PM at a fund

- Owner of a fund mgmt company or family office

[jeffmori7]

I find this poll perfectly fine on my side. I think it was implied here that manage other people's money meant to be paid for it. So far we have about just under 20% professional manager as opposed to 80% "amateur". Thanks for sharing guys.

[ragnarisapirate]

I manage my wife's RothIRA but let's be honest -- it was my money that went into the account in the first place, given that she spent all of her income.

 

Is that due to different spending habits (ie some people spend everything they get) or differences in wages?