Katharina Buczek
And after realizing that, he decided to speak with his parents and ask them for a loan. That way, he could invest even more money and increase the profit returns.
He reportedly prepared an entire presentation and delivered it to his parents in a very professional way. It appears that his parents were very impressed, too, since they ultimately decided to lend him $10,000.
Then, once he invested that additional money, his portfolio continued to grow. And since his parents were so pleased with the growth, they decided to give him an additional $80,000 in separate installments to continue investing in the stock market.
Finally, after the portfolio’s value increased even more, he and his parents spoke one more time. At that point, they offered to give him the entirety of their savings– valued at $115,000– to invest. And he did.
Soon after, though, all of this investment growth seemingly got to his parents’ heads.
According to him, one of his professors– who also mentored him– tried to warn him about this possibility.
“Early on, he advised me to be careful as money can change people and other typical stuff you hear from rich guys,” he explained.
“To simplify, he wanted me to have guidelines with my parents– like who does what, and who gets how much money after?”
Since he was working with his parents, though, he never had that conversation. Well, that was until his parents gave him the final installment of $115,000, and he felt that it was time to have a chat– given the huge responsibility that came with handling his parents’ entire savings.
Anyway, he and his parents scheduled an appointment, but his father ended up not being able to attend. So, he and his mother ultimately discussed his concerns together.
He reportedly told his mom that since he was responsible for doing all of the research and work, he should be entitled to 50% of the returns. A fifty-fifty split was apparently what his advisor advised him to ask for, and he believed that was fair, too.
