Breakups & Divorce Support Group

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hendo1 08/04/2007

Anyone out there able to give some professional advice on investments?

My husband, whom I am teetering on the edge of divorce to, is insisting on pursuing an investment that involves using all of the equity that we currently have in any of our investments. We are talking some millions of dollars here.

I seem to think you should leave at least some there and not borrow against it but he says I am holding him back in doing that.
My thoughts are that if something goes wrong, then at least if you dont involve your homes, then you at least have something left over provided they dont get drawn in through guarantors.

Is there anyone out there who knows enough about investing to give advice on whether it is correct that you should borrow against all of the equity that you have in all of your properties or not?

I am trying to get into a financial advisor of my own early next week, but that may not happen and my husband is pushing me to agree to something that I have reservations over but I am not sure if they are well founded or not.

thanks

hendo1 08/04/2007

Oh, and you may ask why the hell is he doing this when we are in an unstable marriage?

I ask him the same and he insists that things will be ok. No guarantees of course.

He has set up the companies so that he does not need my signatures on most, but I think in this one perhaps he does, as it involves our homes which are in my name.
My solicitor has told me that I cannot do anything to stop him unless I say I want a divorce and I am not quite there yet.

Just need to know if my thoughts on borrowing too much are well founded or not??

deleted_user 08/04/2007

I would get my name on everything then file for divorce. My jerk kept me off of a few things that I didn't know about and now its to late. I'm pretty much screwed on those. protect yourself.

deleted_user 08/04/2007

As soon as I read your post alarm bells went off in my head! My recent ex's daughter is married to a fellow whose step father is in deep cream cheese. He was selling people on this investment scam...and basically it was a ponzi scheme. Most of his victims were fellow church members. The majority of them pulled equity from their other assets. NOw their money is gone! Turns out the scoundrel was not even licensed to deal in securities, is under investigation by the FBI and several other agencies...DO NOT DO THIS!

deleted_user 08/04/2007

Okay, I am not a professional investment adviser but my stbx is and I have listened to years of stories like this one. Putting all your money into one basket is a VERY, VERY bad idea - for anyone, anytime. This is consider to be very high risk investment behavior. If the investment doesn't pan out - you have nothing at all. Borrowing money to invest is considered the highest risk of all. Because not only do you lose all your money but you also have to pay it back. Borrowing money against your home is probably not as bad but, still, if he does this, loses it and then you want a divorce, you have nothing.

I, too, see a lot of red flags in your posts. Putting companies into his own name is an attempt to keep you out of the loop. I don't know what the laws are in Australia but be careful. Sounds almost like he knows a divorce is coming and is trying to put things out of your reach.

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