The Moneyist: My friend gave me some good stock tips — now he wants me to pay him
My friend gives me stock advice. I have executed trades based on some of his suggestions and have made a decent amount of money on most of his trades. I am well off and have a good portfolio in terms of monetary value and positions.
He now continues to ask me for money and says “I made you this much money,” or “I tell you all of your stocks to buy and I deserve this amount etc.” I thought he was doing this out of the kindness of his heart. Should I pay him?
P.S. Happy holidays!
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Hello there, MarketWatchers. Check out the Moneyist Facebook group, where we look for answers to life’s thorniest money issues. Readers write in to me with all sorts of dilemmas: inheritance, wills, divorce, tipping, gifting. I often talk to lawyers, accountants, financial advisers and other experts, in addition to offering my own thoughts. I receive more letters than I could ever answer, so I’ll be bringing all of that guidance — including some you might not see in these columns — to this group. Post your questions, tell me what you want to know more about, or weigh in on the latest Moneyist columns.