Investment Advice

[benthomas]

Hi,

If i had to give someone an investment advice.
I mean not just where to invest but how to save enough to make an investment, what should i do?
I am tired of telling him how i save and invest but it does not hook him.
All this is for my elder brother whose business is doing good but he is spending or we can say wasting the money.

Regards
Ben Thomas

[Mega B]

My opinion would be you cannot do it for him,you have had a go and tried to help so just let him get on with it.

[The Stealthy One]

Turn him on to something like Sharebuilder.com. It's pretty painless because you can select to have it deduct from your bank weekly, bi-weekly, or monthly. It's all automatic, so if his issue is just motivation, something like Sharebuilder should fix that.

[Qloud9resident]

Try showing him the long-term implications of not investing. Maybe if he has an epiphany(that he will be working until he's 80, unless he invests/saves); he will change his pattern. Most people don't realize that sooner or later you hit 65. And depending on how you invested for the last 40 years, is whether you are a poor, thrifty retiree. Or you are able to spend and live comfortably.