Should you invest in your dopey nephew’s business?

By Nina Kaufman, Esq.

Ever been hit up to invest in a friend’s or family member’s business? Is it wise to do so—given that you know them so well? What steps should you take when asked to invest (or lend money for) a loved one’s business?
Tune in to Wall Street Journal Radio, where I sit down with Veronica Dagher on the “Watching Your Wealth” program.  We identify:

•    The top red flags that come up—and how to tackle them confidently
•    Why you need to be even extra formal in your conversations about expectations
•    The very first thing you should get in hand from your friend/relative before you invest
•    How often you should check in about your investment

Listen to the very end as we have some fun when I take their financial questionnaire.