Posted by taxguru on November 25, 2002
Gambling With The Home
It sounds too stupid to be true; but I’m failing to find the ironic wink to indicate that this is a joke. Who in their right mind would advise people pulling out all of their home equity to invest in the stock market? Why not take the money and go on a gambling spree to Las Vegas or Atlantic City? At least they would get some free drinks and cheap buffets; amenities most stockbrokers don’t offer as their clients lose their money.
Considering the fact that, for most people, their homes represent the major portion of their net worth, and an essential resource for their retirement years, gambling it all on stocks is insanity.
KMK
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