Telling my family

  • Afternoon everyone, hope you're all enjoying the weather.

    About a month ago, I sat down with several members of my family and explained what the football index is, showed them my portfolio and the profits I have made during my 5 months on the Index.

    Wasn't sure how well it would go down, but it went much better than expected. Being only 19, footy mad, and knowing every stat, rumour etc usually received a 'Why don't you try learning something useful?' from my Dad etc. The look on their faces when I showed them my portfolio was a picture I wish you could all see.

    Anyway, my few of my family members are now interested in the Football Index and looking to invest. However, it would seem to me that they would be relying solely on my knowledge and predictions etc, and I have constantly been reminding them that this is still a form of gambling, albeit a lower risk than usual bookmakers.

    My question for everyone (and there is no right or wrong answer) is: If your family asked you to 'manage' their portfolio with their money in, would you be comfortable in doing so?

    Tom :)

  • Definite no for me, no matter how well I explained the risks, I’d never get past the guilt if something was to happen and I lost their money.

  • It's a no from me.... I'm oooot! I would tell them to research themselves or just put about 2 hours a day into the forum! That should give them enough knowledge after a couple of months of who to listen too etc!

  • @TomIrving

    100% no mate.

    Money is one of the few things that can tear a genuinely decent family apart.

    Yes, it would be great when you are making them money, but the minute you lose them a penny, the blame will be yours to shoulder.

    And there will be times on this platform when you will lose money. I can guarantee you that.

  • Absolutely. They're grown ups and can understand the risks and I'm certain I could make them some money. Don't think they'd go for it though as they're pretty risk adverse.

  • Biggie has this advice for you:

    This rule is so underrated,
    Keep your family and business completely separated,
    Money and blood don't mix like two dcks and no btch!
    Find yourself in serious shit.

  • Definite no. I could live with the worst case scenario of losing my money but would never forgive myself if I lost other people's.

  • I used to be a bad gambler. Everybody wanted advice when I'd won a fortune. They all thought I was an idiot when I lost big. If your making a few quid good for u, it's your risk, nobody elses, and it's your endeavour, nobody elses. If they want to make money on FI good luck to them but its they're responsibility not yours

  • If I had to do it I'd be guaranteeing them nothing and would be betting on the safest holds on the index. I do believe the platform will continue to grow tho so wouldn't be worried too much tbh.

  • Very much appreciate all of your replies, I was thinking exactly the same as most of you have mentioned.

    Thank you for your advice, reasons and opinions. A perfect example of what the forum should be used for :)

    @Coleyscrooge @Dan-w @johnboywalker @Joev @Specksynder @Alpilgrim @MickTurbo @LuaLua

  • I wouldn't do it. Friend offered a deal for me to manage a portfolio for him and I keep 10%... Turned it down.

  • get them to sign up thru footyindexscout, deposit and spend £25 to get a £50 cash bonus, withdraw their £25 play with the £50 ?? or if you was talking about serious money then probably not

  • I don’t mind losing my own money but more often than not on here we are talking thousands so i couldn’t get family involved unless they are doing it themselves

  • There is no up side for you. If you win they will be "thanks" if you lose that shit could turn nasty.

    If they are insistent. Take a grand off them put it in now. Don't tell them about the 10% bonus. Arfter 15 days tell them you made some bad picks and all the money is gone.

    If they lose their shit go "this is why it's a bad idea. Here is £1100" if there cool with it. Re explain the risks and may be it could work.

  • @Misto That is a great idea. Do this and report back aahha.

  • It can be done. I look after my dads as he is clueless about football. But the onboarding process needs to be totally clear. I.e sit down and make clear what's gonna happen. Don't do a sales pitch, but do an honest non biased review of what the company's done (good and not so good) and where the company's heading to next. Only invest what they're willing to lose and go over that point alot. Make clear the reward is a significant tax free roi higher than the bank and the risk is the money is all in one platform where there is no protection if the platform folds (albeit unlikely). If this crucial part of the process is done correctly and they are happy that they are making their own decision and you are merely facilitating the process, then they can be pissed off if they lose their money but they can't be pissed off at you. Get them or perhaps one of them to test it out and as their confidence grows its up to them to decide to put more money in. Also I have an option where on sign up they can make around £60 by investing just £20. PM me for details if that helps.

  • @Vespasian32 said in Telling my family:

    I wouldn't do it. Friend offered a deal for me to manage a portfolio for him and I keep 10%... Turned it down.

    Told him 20% I hope? 😁

  • @TomIrving Nice to see a 19 year old choosing Football Index rather that traditional gambling, unless you're doing both 🤦🏻‍♂️

    This is something I'd have to say no way Jose to, the stress and pressure would be immense mate, watching my own portfolio drop some days is stressful enough, let alone someone elses money.

    If you have any sense which it seems you do 😁 then just point them in the direction of the available videos and let them study for a week or so and then make a decision.

  • @Andy-M Thanks mate, haha no I'm actually not interested in the traditional gambling side of things! I can see the appeal in getting instant profit, but the potential of a 100% loss so quickly just scares me.

    And I completely agree with you, makes me feel sick seeing red numbers in my own portfolio, let alone having to show my own parents that their money is disappearing (unlikely but it is still gambling at the end of the day).

    Thank you, yeah I would be much more comfortable if they carried out their own research! I've already reminded them that I'm not a financial advisor, just someone sensible that loves football and money haha!! Cheers for your input bud, appreciate it. 😁

  • I done it for a mate, he wanted his money in here for 12 months and wanted a better interest rate than 5%, was a no brainer... i didnt gain from it and explained it all to him but basically he set the account up, put his money in and i went round his house and spent all his money for him 😂😂😂, he wanted to log out and log back in a year later so went for the safest holds possible... he cashed out after 13 months in the end because i convinved him to hold out another month until the share split had been done, including dividends and the 2% commission from selling up he got 18% profit on his investment which he was over the moon with... if any1 else asked me to do it i would do the same for them.

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