I think I may have made a stupid mistake around how I invested $100,000 with a family member and would appreciate a reality check.
In brief, although not close with my family, we all are cordial but hardly affectionate. So this is not about long festering bad feelings.
My sister's husband is a broker with a small office of a large investment firm. He's a nice enough guy. He's been married to my sister for 35+ years or more, two good kids, grown. He's seemed a decent husband. Actually nicer than my sister. Over the last 30 years he took very good care of my parents investments, over time doing well for my dad, weathering the '08 mess better than most. My dad died in 2010. Thanks to him and my brother-in-law, my mother is well taken care of as frankly my siblings and I will be to a reasonable extent when she passes. All good. Money between us all has never been an issue.
So, when I had $100,000 saved to invest six months ago, I thought in the interest of creating a little more family connection where there is little, rather than going with any number of brokers recommended by friends, I'd go with my brother-in-law. I'm now thinking that was a foolish mistake.
We had a brief discussion about it. He understood I was looking for a low risk investment that I most likely wouldn't touch for three years when I might want to buy a house. I sent him a $100,000 check.
Since then (and as of a statement I received today in the mail), that $100,000 is now $96,326, losing money each month since he invested it wherever he did, which I don't really understand. Is this what most people are seeing on their "low risk" investments over the last six months?
I'd hoped to invest this $100,000 with him and in three years, maybe be looking at $110,000. I know, who really knows. But this kind of loss, so quickly?
Now here's why I feel like an asshole. With any other broker, I would call and ask what this is about. What's going on? Now, I realizing how stupid to have done this with family, I'm reluctant to do so frankly, knowing what a bitch my sister can be when she hears I've questioned this.
So before I make the call, I wonder if anyone could give me advice along the lines of "this is what we're all seeing, relax" or "girl, you fucked up. Get what's left back and go with someone recommended who actually works for you!" Thanks.