Ever since I discovered the joy of investing, I’ve been encouraging friends and family members alike to do the same. I get the same feeling I usually get when I stumble upon a good deal and just can’t wait to share the information with everybody. Because really, what’s the point in keeping mum when everyone can benefit from such a fab deal?
In the office, my boss’ daughter also subscribes to Bo Sanchez’ Strategic Averaging Method (SAM) technique with stock investment, but she funds her COL account with over the counter deposits and hasn’t bought stocks for the past 3 months simply because it’s such a hassle to go to the bank and line up. So I introduced her to the wonderful world of online banking and now she has no more excuse to miss her monthly schedule.
A good friend is also starting with SAM and I’m acting as his personal CSR, assisting him in setting up his account and answering his questions on stock investing and navigating the COL website.
But my labor of love is with my cousin, Grace. During our Dumaguete mini-break, I convinced her to at least start investing with mutual funds if she’s still iffy with stock investing. I volunteered to send her the downloaded forms, bug her every month for her investment (we’re doing the peso cost averaging method), deposit her investment and send her a monthly summary of how her funds are doing. And on her end, she has to fill out and send the forms to FAMI, and send me her monthly deposit.
My motive for doing this is to keep her away from opportunistic people who prey on her good nature. Really, my family members have been hoodwinked so many times because they don’t care to do the research with the numerous “investment opportunities” presented to them (I’m talking about you Mom!) and mostly because they’re just too trusting. I’m probably the only one in my family who thinks that a person is a potential criminal until he/she proves otherwise.
The way I see it, if I empower my cousin with the knowledge that she’s actually earning from her investments, she won’t easily fall for the sweet promises of swindlers and their ilk. Shady people like that prey on a person’s insecurity that he/she is not doing enough to ensure his/her future and would then present a slam-bang presentation that will purport to solve all of his/her financial woes in as little as a few months. So if you’re secure with the knowledge that you’re actually doing something, then you can easily dismiss those gypsters.
Or at least that’s my take on the situation. Anyway, this is already an incredibly rambling post and my only point is, I don’t want to keep this knowledge to myself.