Steve D. Valentine warns that investing other people's money requires genuine expertise and deep market knowledge. He emphasizes the severe consequences when retirees lose their savings to poor decisions, and cautions against lending to people you know without careful vetting.
It's based on your expertise, your knowledge of the market, and your ability to create relationships. And remember, like, this is a tricky game. This is not, you know, go out and get a bunch of people's money and move things around because you will get in trouble. And then that's where older people like really get pissed off when you lose their retirements and do stupid shit. So if you're gonna do this, do it very cautiously with people that you know. And if you're lending money, be cautious with who you're doing it with.
It’s Not What Your House Is Worth; It’s What It Can Do for You (Pause, Identify, Respond)
