Kazak needs help!

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You can only get 5% with no possibility of loss of principal. Trying for 15% to 20% annually is what got the homedebtors into trouble. Mutual funds can easily go down like real estate, or go flat for a long time. $500,000 invested conservative only gets you around $3,000 a month, but that's good income, would pay for a nice apartment in Irvine. Give it to the bro, and he not only loses out on the $3,000 a month income, he has to pay property taxes and all sorts of other expenses. It's total insanity to even consider that. Is Kazak's post a fake post? Can anyone be that stupid to consider this for more than 1 minute?
 
<p><em>Is Kazak's post a fake post? Can anyone be that stupid to consider this for more than 1 minute?</em></p>

<p>I do not think that Kazak's post is fake at all. It is completely understandable for someone, especially a recent immigrant, who feel extremely obligated to help out a close family member. While the American culture stresses individuality, many other cultures place a high focus on having close families (Chinese is definitely one of those-personal experience).</p>
 
Kazak and his wife are in their mid 20's. His older brother is in early 40's. I have met all of them except the brother's wife.





Most immigrants I have known didn't bring ALL their money to the US with them at once. We came here first with some spending money. After settled in a city, then we'd have our money wired over to pay for big expenses like a home or starting a business. Most immigrants would also keep some in their homeland just in case the US dream doesn't work out.





Kazak's 1/2 million is still in his hometown. I don't know if Kazak has any idea what a mutual fund is, he did not even know what HOA was. After much explaining, he still thinks it is something similar to the Mafia.





I talked to Kazak's wife last night after they came back from library, they don't have internet connection at home.





Kazak is said to be thinking hard about how much he could afford to give to his brother and simply see it as a gift. He is said to feel shamed that letting "his fear of the housing market downturn blinding his love and obligation for his own blood."





One mistake regarding brother's house - it was bought years before 2005. Bank appraised the house and 2nd loan was taken out in 2005, making the total loan amount $800,000.
 
<em>"he did not even know what HOA was. After much explaining, he still thinks it is something similar to the Mafia"





</em>sounds like you did a fine job of explaining to him.
 
reason - I think fumbling is pointing out the risk associated with a mutual fund which has a history of 15%-20% ROI. There are many investments which have better than market returns, and it is always important to assess the risk involved.
 
<p><em>Kazak is said to be thinking hard about how much he could afford to give to his brother and simply see it as a gift. He is said to feel shamed that letting "his fear of the housing market downturn blinding his love and obligation for his own blood."</em> </p>

<p>There is nothing to be ashamed of. He needs to look out for his wife and himself first before he can help other people. If Kazak's brother is unwilling to sell his own house to save himself, why should Kazak?</p>
 
reason, what fund(s) are these that have a 15-20% annual track record? is that a long-term track record because those returns are amazing.
 
here's the link to their website:http://www.sprott.com/index.php





awgee, have you personally invested in any of their funds, and if so what has your experience been? i am not sure how to interpret their track record.


the returns of the canadian equity fund are great vs the TSX.





on the other hand, the gold & precious minerals fund looks funny to me.


<a href="http://www.sprott.com/investmentproducts/canadianinvestors/mutualfunds/goldpreciousminerals.php">Sprott Gold & Precious Minerals</a> YTD -12%.


Vanguard Precious Metals Index YTD +31% (fund currently closed to new investors but its always nice to compare with a low-cost passively managed fund)





how the heck could any gold and metals fund be down that much in 2007?



 
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