Loaning out one's life savings

[Augusta]

What do you think about loaning out your life savings to maybe a very close person. Do you think you would be taking a right financial decisions. Whether the person pays back the loan complete or not?

 

[eLdavis]

I won't even try this, when it comes to money humans can be unpredictable. Loaning all my life savings is just too risky.

 

[deucher]

I think that I could do this only for the closest person and in a very critical situation. After all, for example, if I know that I have the opportunity to borrow these funds, I will do it. I'm not crazy about finances

 

[Augusta]

This is a risky thing to do . I wouldn't advice one to do this even to one's family. You might get disappointed somehow

 

[King Belieal]

Maybe that your life savings didn't have any goal that it could have helped you solve and fix. Did you say life savings? That means a savings that you have done and held for years. I can only touch such savings for very sure investments or emergency situations.

 

[freelancermaria]

I find it too risky to lend out my life savings, even to someone I am close to. After all, life savings represent the hard-earned money that I have accumulated over the years. It is not something that I can easily part with, especially when there is a chance of losing it.

 

[SHAHID987]

I always distribute things, once I find out that a needy person is asking for loan. Then I give some amount and tell him to ask further for that specific person.

 

[Augusta]

Maybe that your life savings didn't have any goal that it could have helped you solve and fix. Did you say life savings? That means a savings that you have done and held for years. I can only touch such savings for very sure investments or emergency situations.

Yes, I mean loaning out to another person that needs it for sn emergency. The truth is that some situations especially for a family member calls for such decision especially at a dying point

 

[Starmix]

I don't support on that. There are many liars this time. They're sweet when need financial help from us but when they achieve what they want from us their attitudes change.

 

[Kross]

Loaning out any amount of money is a risk. I always give the little I have to give out than give out a loan. Too risky.

 

[Springtime]

It is a risky thing to loan out all your life savings, even to a close person. If s(he) really cannot repay you back, then you will be in big financial trouble.

 

[Nomad]

Never make a mistake of giving your life savings as a loan to individuals, instead use it to buy bonds or keep in banks on fixed deposit account.

 

[neku]

I would never loan out my life savings to anyone. However, powerful government employees are robbing the savings of older single women professionals, investors who they hate and falsely claiming that the woman who the government employees have never contacted, has given the savings.

 

[Suba]

In my opinion, lending money or life savings to people close to me such as wife, siblings, mother, father, if it is for medical expenses, I would not lend it to them but give it to them, because it will not make me bankrupt.

 

[SilverLance]

I agree on giving rather than lending when it comes to close family members in need, especially for critical situations like medical expenses.