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.

 

[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.