So my very close circle of friends and I (all of whom are between 18-20) are thinking of starting a fund that would include our investments in a group centralized account.
We would likely do something along the lines of 1/3 CDs or high yield savings, 1/3 brokerage stock market investing, and 1/3 real estate or liquidated funds. (Subject to change)
We plan to open a joint account at both a bank (for the savings) and a brokerage (for the investments)
We plan to place legal boundaries that do not allow any foul business should any of our relations go awry, as well as an out for anyone due to that same purpose or any other reason.
Also not all of our retirement money would likely be going into this account, as further insurance to ourselves.
Are there any legal issues with this plan? Or any thoughts on the plan as a whole either being a good one, or failing miserably for any reason?
Thanks for your input!
Submitted March 26, 2019 at 01:56AM by artistbuddy https://ift.tt/2HUrWTM
