Let's assume you are able to earn a living, you have
some cash flow. What could be the most difficult
problem you face?
Consistently I find people making bad choices on where they choose to place their investment dollars.Specifically investing dollars in "non traded investment funds" is where people often have trouble.
All that means is the fund is not traded on any exchange so when you hand money to that fund they control your funds and likely have no obligation to return it to you.
Unfair? Shocking? Yes and even worse but thousands of funds and investment advisors try to put your funds in such non traded funds and then you're stuck.
Does this mean your money is simply gone? No, your investment may actually return good earnings, the funds may be safe. But you can't know how secure this investment is and you may have no recourse.
How to avoid this dilemma? Ask the sales person if you can recover your funds any timeno matter what. It literally means anytime. In many situations it may not be advisable to ask for the money back, especially in aweak economy but you would have the right at least.
Be careful of any non-traded investments. That category appeared at the top of the Wall Street Journal's list of investments to be wary of.